iShares MSCI Canada ETF (NYSEARCA:EWC) Reaches New 1-Year High – Still a Buy?

iShares MSCI Canada ETF (NYSEARCA:EWC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.50 and last traded at $53.65, with a volume of 867319 shares changing hands. The stock had previously closed at $53.07.

iShares MSCI Canada ETF Stock Performance

The stock has a market cap of $3.59 billion, a PE ratio of 19.77 and a beta of 0.94. The company’s 50-day moving average price is $51.05 and its 200 day moving average price is $48.55.

Hedge Funds Weigh In On iShares MSCI Canada ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in iShares MSCI Canada ETF in the first quarter valued at $23,355,000. Russell Investments Group Ltd. lifted its stake in iShares MSCI Canada ETF by 4.8% in the first quarter. Russell Investments Group Ltd. now owns 80,593 shares of the exchange traded fund’s stock valued at $3,284,000 after buying an additional 3,697 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in iShares MSCI Canada ETF during the 1st quarter worth $427,000. Korea Investment CORP grew its holdings in shares of iShares MSCI Canada ETF by 52.1% during the first quarter. Korea Investment CORP now owns 1,663,100 shares of the exchange traded fund’s stock worth $67,771,000 after buying an additional 569,707 shares during the last quarter. Finally, RWA Wealth Partners LLC purchased a new position in shares of iShares MSCI Canada ETF in the 1st quarter valued at approximately $984,000.

iShares MSCI Canada ETF Company Profile

iShares MSCI Canada ETF (the Fund), formerly iShares MSCI Canada Index Fund, is an exchange-traded fund (ETF). The 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 Canadian market, as measured by the MSCI Canada Index (the Index).