Short Interest in iShares MSCI UAE ETF (NASDAQ:UAE) Decreases By 56.9%

iShares MSCI UAE ETF (NASDAQ:UAE) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,226,867 shares, a drop of 56.9% from the May 31st total of 2,843,302 shares. Based on an average trading volume of 389,223 shares, the days-to-cover ratio is currently 3.2 days. Approximately 8.3% of the shares of the company are sold short.

iShares MSCI UAE ETF Price Performance

Shares of NASDAQ UAE traded down $0.18 during trading hours on Tuesday, reaching $19.01. The stock had a trading volume of 225,668 shares, compared to its average volume of 583,650. The business’s fifty day moving average is $19.28 and its two-hundred day moving average is $19.61. The company has a market cap of $279.45 million, a price-to-earnings ratio of 10.93 and a beta of 0.42. iShares MSCI UAE ETF has a twelve month low of $17.29 and a twelve month high of $22.29.

iShares MSCI UAE ETF Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were issued a $0.6631 dividend. The ex-dividend date of this dividend was Monday, June 15th.

Hedge Funds Weigh In On iShares MSCI UAE ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG increased its stake in iShares MSCI UAE ETF by 457.7% in the fourth quarter. UBS Group AG now owns 152,647 shares of the company’s stock valued at $2,919,000 after acquiring an additional 125,275 shares during the period. HighTower Advisors LLC acquired a new position in iShares MSCI UAE ETF in the fourth quarter worth about $8,870,000. JPMorgan Chase & Co. bought a new position in iShares MSCI UAE ETF during the third quarter worth about $4,539,000. Mondrian Investment Partners LTD lifted its stake in iShares MSCI UAE ETF by 4.9% during the fourth quarter. Mondrian Investment Partners LTD now owns 707,227 shares of the company’s stock worth $13,522,000 after purchasing an additional 33,035 shares during the period. Finally, Moneda S.A. Administradora General de Fondos lifted its stake in iShares MSCI UAE ETF by 11.9% during the third quarter. Moneda S.A. Administradora General de Fondos now owns 24,494 shares of the company’s stock worth $482,000 after purchasing an additional 2,611 shares during the period.

iShares MSCI UAE ETF Company Profile

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.