iShares MSCI Italy ETF (NYSEARCA:EWI) Shares Break Below 50-Day Moving Average – Here’s Why

iShares MSCI Italy ETF (NYSEARCA:EWI)’s stock price crossed below its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $61.74 and traded as low as $59.75. iShares MSCI Italy ETF shares last traded at $60.04, with a volume of 210,913 shares trading hands.

iShares MSCI Italy ETF Trading Down 1.4%

The firm has a fifty day moving average price of $61.72 and a 200 day moving average price of $59.14. The firm has a market cap of $1.09 billion, a PE ratio of 12.30 and a beta of 0.87.

Hedge Funds Weigh In On iShares MSCI Italy ETF

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC purchased a new position in iShares MSCI Italy ETF in the second quarter worth approximately $1,058,000. Nilsine Partners LLC lifted its stake in shares of iShares MSCI Italy ETF by 1.6% in the 2nd quarter. Nilsine Partners LLC now owns 179,139 shares of the exchange traded fund’s stock valued at $10,612,000 after purchasing an additional 2,900 shares during the last quarter. Knollwood Investment Advisory LLC purchased a new position in shares of iShares MSCI Italy ETF during the 2nd quarter worth $1,007,000. Pacifica Partners Inc. purchased a new position in shares of iShares MSCI Italy ETF during the 2nd quarter worth $30,000. Finally, Cairn Investment Group Inc. acquired a new stake in shares of iShares MSCI Italy ETF during the 2nd quarter worth about $15,604,000. 37.96% of the stock is currently owned by institutional investors and hedge funds.

iShares MSCI Italy ETF Company Profile

iShares MSCI Italy Capped ETF, formerly iShares MSCI Italy Capped Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Italy 25/50 Index (Index). The Index consists of stocks traded primarily on the Milan Stock Exchange. The Underlying Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no single issuer of a component exceeds 25% of the Underlying Index weight and all issuers with weight above 5% do not exceed 50% of the Underlying Index weight.