iShares MSCI Spain ETF (NYSEARCA:EWP) Sees Strong Trading Volume – Here’s Why

iShares MSCI Spain ETF (NYSEARCA:EWP) saw unusually-strong trading volume on Wednesday . Approximately 1,874,452 shares were traded during trading, an increase of 192% from the previous session’s volume of 641,728 shares.The stock last traded at $56.34 and had previously closed at $56.43.

iShares MSCI Spain ETF Stock Performance

The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 10.89 and a beta of 0.67. The company’s 50 day simple moving average is $55.26 and its two-hundred day simple moving average is $54.28.

Hedge Funds Weigh In On iShares MSCI Spain ETF

Hedge funds have recently modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in shares of iShares MSCI Spain ETF during the fourth quarter worth $101,057,000. Bank of Montreal Can acquired a new position in iShares MSCI Spain ETF in the 4th quarter worth about $43,669,000. Schroder Investment Management Group increased its position in iShares MSCI Spain ETF by 3,000.0% in the 4th quarter. Schroder Investment Management Group now owns 527,000 shares of the exchange traded fund’s stock worth $28,516,000 after purchasing an additional 510,000 shares during the last quarter. Bank of Nova Scotia purchased a new stake in shares of iShares MSCI Spain ETF during the 4th quarter worth about $25,370,000. Finally, Jane Street Group LLC purchased a new stake in shares of iShares MSCI Spain ETF during the 2nd quarter worth about $16,165,000. 38.17% of the stock is owned by institutional investors and hedge funds.

About iShares MSCI Spain ETF

iShares MSCI Spain Capped ETF, formerly iShares MSCI Spain Index Fund, is an exchange-traded fund. 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 Spanish market, as measured by the MSCI Spain Index (the Index). The Index seeks to measure the performance of the Spanish equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.