iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Shares Climb 0.8% – Still a Buy?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) were up 0.8% during mid-day trading on Monday. The company traded as high as $36.58 and last traded at $36.52. Approximately 597,206 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 667,864 shares. The stock had previously closed at $36.22.

iShares MSCI Saudi Arabia ETF Trading Up 0.8%

The firm’s 50 day simple moving average is $37.76 and its 200 day simple moving average is $38.18. The firm has a market cap of $589.80 million, a PE ratio of 15.67 and a beta of 0.32.

Institutional Investors Weigh In On iShares MSCI Saudi Arabia ETF

A number of hedge funds have recently made changes to their positions in KSA. Y Intercept Hong Kong Ltd purchased a new position in iShares MSCI Saudi Arabia ETF during the 1st quarter valued at approximately $255,000. Banque Cantonale Vaudoise boosted its position in shares of iShares MSCI Saudi Arabia ETF by 6.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 7,667 shares of the company’s stock valued at $305,000 after acquiring an additional 485 shares during the last quarter. Empowered Funds LLC bought a new position in shares of iShares MSCI Saudi Arabia ETF during the 1st quarter valued at approximately $573,000. Blue Trust Inc. grew its holdings in shares of iShares MSCI Saudi Arabia ETF by 65.8% in the first quarter. Blue Trust Inc. now owns 15,315 shares of the company’s stock valued at $609,000 after purchasing an additional 6,080 shares in the last quarter. Finally, SummitTX Capital L.P. increased its position in iShares MSCI Saudi Arabia ETF by 97.7% in the first quarter. SummitTX Capital L.P. now owns 25,700 shares of the company’s stock worth $1,022,000 after purchasing an additional 12,700 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.