iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Gap Up – Here’s Why

iShares MSCI South Korea ETF (NYSEARCA:EWY) shares gapped up prior to trading on Friday . The stock had previously closed at $51.12, but opened at $52.55. iShares MSCI South Korea ETF shares last traded at $52.60, with a volume of 226,856 shares traded.

iShares MSCI South Korea ETF Stock Up 2.6 %

The business has a 50 day moving average price of $56.30 and a two-hundred day moving average price of $61.62. The stock has a market cap of $4.17 billion, a P/E ratio of 9.60 and a beta of 1.25.

Hedge Funds Weigh In On iShares MSCI South Korea ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWY. Bridgewater Associates LP increased its holdings in shares of iShares MSCI South Korea ETF by 12.9% in the 3rd quarter. Bridgewater Associates LP now owns 1,927,560 shares of the exchange traded fund’s stock worth $123,287,000 after buying an additional 220,129 shares during the last quarter. Sun Life Financial Inc. raised its position in iShares MSCI South Korea ETF by 46.0% during the second quarter. Sun Life Financial Inc. now owns 1,490,773 shares of the exchange traded fund’s stock valued at $98,525,000 after purchasing an additional 469,500 shares during the period. Hsbc Holdings PLC lifted its stake in shares of iShares MSCI South Korea ETF by 49.7% in the 2nd quarter. Hsbc Holdings PLC now owns 1,263,030 shares of the exchange traded fund’s stock valued at $83,474,000 after purchasing an additional 419,112 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of iShares MSCI South Korea ETF by 25.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 913,197 shares of the exchange traded fund’s stock valued at $58,408,000 after purchasing an additional 184,207 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. boosted its holdings in shares of iShares MSCI South Korea ETF by 125.2% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 519,978 shares of the exchange traded fund’s stock worth $34,365,000 after purchasing an additional 289,047 shares during the period.

About iShares MSCI South Korea ETF

iShares MSCI South Korea Capped ETF (the Fund) is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Korea 25/50 Index (the Index). The Index consists of stocks traded primarily on the Stock Market Division of the Korean Exchange.