iShares MSCI Brazil ETF (NYSEARCA:EWZ) Reaches New 52-Week High – What’s Next?

iShares MSCI Brazil ETF (NYSEARCA:EWZ)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $36.90 and last traded at $36.61, with a volume of 51684335 shares changing hands. The stock had previously closed at $36.59.

iShares MSCI Brazil ETF Price Performance

The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 9.58 and a beta of 0.87. The firm’s 50-day moving average is $32.88 and its 200 day moving average is $30.67.

Hedge Funds Weigh In On iShares MSCI Brazil ETF

Several hedge funds and other institutional investors have recently modified their holdings of EWZ. Moran Wealth Management LLC acquired a new stake in iShares MSCI Brazil ETF during the 4th quarter worth approximately $10,092,000. Patriot Financial Group Insurance Agency LLC grew its stake in iShares MSCI Brazil ETF by 2.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 20,069 shares of the exchange traded fund’s stock worth $638,000 after buying an additional 423 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of iShares MSCI Brazil ETF in the fourth quarter worth $3,177,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of iShares MSCI Brazil ETF by 34.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,200 shares of the exchange traded fund’s stock valued at $1,785,000 after acquiring an additional 14,400 shares during the period. Finally, BCS Private Wealth Management Inc. raised its stake in shares of iShares MSCI Brazil ETF by 28.8% in the 4th quarter. BCS Private Wealth Management Inc. now owns 31,320 shares of the exchange traded fund’s stock valued at $998,000 after acquiring an additional 7,000 shares during the period. 72.69% of the stock is owned by institutional investors and hedge funds.

iShares MSCI Brazil ETF Company Profile

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.