iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Sets New 1-Year Low – Time to Sell?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA)’s share price reached a new 52-week low during trading on Tuesday. The stock traded as low as $34.60 and last traded at $34.6950, with a volume of 53,663 shares changing hands. The stock had previously closed at $35.14.

iShares MSCI Saudi Arabia ETF Trading Down 1.0%

The firm has a fifty day moving average of $37.45 and a 200 day moving average of $38.02. The company has a market capitalization of $561.62 million, a P/E ratio of 15.67 and a beta of 0.32.

Hedge Funds Weigh In On iShares MSCI Saudi Arabia ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of iShares MSCI Saudi Arabia ETF during the 3rd quarter valued at about $15,916,000. Nipun Capital L.P. bought a new stake in shares of iShares MSCI Saudi Arabia ETF in the third quarter worth approximately $14,989,000. Empowered Funds LLC bought a new stake in shares of iShares MSCI Saudi Arabia ETF in the first quarter worth approximately $573,000. Bank of America Corp DE grew its stake in shares of iShares MSCI Saudi Arabia ETF by 36.6% in the first quarter. Bank of America Corp DE now owns 515,183 shares of the company’s stock worth $20,479,000 after acquiring an additional 138,006 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of iShares MSCI Saudi Arabia ETF by 206.0% during the first quarter. Royal Bank of Canada now owns 30,052 shares of the company’s stock valued at $1,195,000 after purchasing an additional 20,231 shares during the last quarter.

About iShares MSCI Saudi Arabia ETF

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.