iShares MSCI Brazil ETF (NYSEARCA:EWZ) Sets New 1-Year High – Should You Buy?

iShares MSCI Brazil ETF (NYSEARCA:EWZ) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $31.46 and last traded at $31.4760, with a volume of 50106 shares. The stock had previously closed at $31.17.

iShares MSCI Brazil ETF Trading Up 0.9%

The business has a fifty day moving average price of $30.06 and a 200-day moving average price of $28.44. The stock has a market capitalization of $6.08 billion, a PE ratio of 9.58 and a beta of 0.87.

Hedge Funds Weigh In On iShares MSCI Brazil ETF

A number of hedge funds and other institutional investors have recently modified their holdings of EWZ. Silver Oak Securities Incorporated purchased a new position in shares of iShares MSCI Brazil ETF in the 1st quarter worth about $364,000. Pekin Hardy Strauss Inc. boosted its holdings in shares of iShares MSCI Brazil ETF by 103.4% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 275,556 shares of the exchange traded fund’s stock worth $7,123,000 after purchasing an additional 140,080 shares in the last quarter. Sharper & Granite LLC boosted its holdings in shares of iShares MSCI Brazil ETF by 10.0% in the 1st quarter. Sharper & Granite LLC now owns 13,250 shares of the exchange traded fund’s stock worth $343,000 after purchasing an additional 1,200 shares in the last quarter. Trek Financial LLC purchased a new position in shares of iShares MSCI Brazil ETF in the 1st quarter worth about $5,147,000. Finally, Country Club Bank boosted its holdings in iShares MSCI Brazil ETF by 2.3% during the 1st quarter. Country Club Bank now owns 56,365 shares of the exchange traded fund’s stock valued at $1,463,000 after acquiring an additional 1,241 shares during the period. 72.69% of the stock is currently owned by hedge funds and other institutional investors.

About iShares MSCI Brazil ETF

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).