iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Sees Strong Trading Volume – Still a Buy?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) saw an uptick in trading volume on Tuesday . 501,280 shares changed hands during trading, an increase of 11% from the previous session’s volume of 451,295 shares.The stock last traded at $40.28 and had previously closed at $40.49.

iShares MSCI Saudi Arabia ETF Stock Performance

The firm has a market capitalization of $619.77 million, a PE ratio of 18.02 and a beta of 0.56. The company has a fifty day simple moving average of $41.54 and a two-hundred day simple moving average of $41.58.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its position in iShares MSCI Saudi Arabia ETF by 35.8% during the fourth quarter. Northern Trust Corp now owns 1,899,400 shares of the company’s stock valued at $77,571,000 after acquiring an additional 501,000 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of iShares MSCI Saudi Arabia ETF in the 4th quarter worth $51,211,000. Martin Currie Ltd. boosted its position in shares of iShares MSCI Saudi Arabia ETF by 5.7% in the 4th quarter. Martin Currie Ltd. now owns 742,559 shares of the company’s stock worth $30,326,000 after purchasing an additional 39,827 shares in the last quarter. Mondrian Investment Partners LTD increased its position in iShares MSCI Saudi Arabia ETF by 14.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 679,541 shares of the company’s stock valued at $28,717,000 after buying an additional 84,471 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in iShares MSCI Saudi Arabia ETF by 3.7% in the fourth quarter. Fisher Asset Management LLC now owns 585,228 shares of the company’s stock valued at $23,901,000 after buying an additional 20,925 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.