iShares MSCI Qatar ETF (NASDAQ:QAT) Shares Down 2% – Time to Sell?

iShares MSCI Qatar ETF (NASDAQ:QAT)’s stock price were down 2% during trading on Monday . The stock traded as low as $18.20 and last traded at $18.25. Approximately 1,294,591 shares changed hands during mid-day trading, an increase of 2,835% from the average daily volume of 44,116 shares. The stock had previously closed at $18.62.

iShares MSCI Qatar ETF Stock Performance

The stock has a market cap of $90.34 million, a PE ratio of 11.93 and a beta of 0.38. The company’s 50 day simple moving average is $18.90 and its 200 day simple moving average is $19.11.

Institutional Investors Weigh In On iShares MSCI Qatar ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in iShares MSCI Qatar ETF by 58.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,636 shares of the company’s stock valued at $618,000 after buying an additional 11,710 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in shares of iShares MSCI Qatar ETF in the 4th quarter worth approximately $463,000. Mackenzie Financial Corp bought a new stake in shares of iShares MSCI Qatar ETF in the 4th quarter worth approximately $434,000. Victory Capital Management Inc. bought a new stake in shares of iShares MSCI Qatar ETF in the 3rd quarter worth approximately $405,000. Finally, Raymond James Financial Inc. bought a new stake in shares of iShares MSCI Qatar ETF in the 2nd quarter worth approximately $33,000.

About iShares MSCI Qatar ETF

The iShares MSCI Qatar ETF (QAT) is an exchange-traded fund that is based on the MSCI All Qatar Capped index, a market-cap-weighted index of large-, mid and small-cap Qatari companies. QAT was launched on Apr 29, 2014 and is managed by BlackRock.