State of Michigan Retirement System Takes Position in iShares MSCI Brazil ETF $EWZ

State of Michigan Retirement System purchased a new position in iShares MSCI Brazil ETF (NYSEARCA:EWZ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 538,350 shares of the exchange traded fund’s stock, valued at approximately $16,689,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EWZ. Truxt Investmentos Ltda. acquired a new stake in shares of iShares MSCI Brazil ETF in the third quarter valued at about $25,000. Aberdeen Wealth Management LLC purchased a new stake in iShares MSCI Brazil ETF during the 2nd quarter worth approximately $29,000. Private Trust Co. NA raised its holdings in shares of iShares MSCI Brazil ETF by 114.4% during the third quarter. Private Trust Co. NA now owns 1,072 shares of the exchange traded fund’s stock valued at $33,000 after acquiring an additional 572 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of iShares MSCI Brazil ETF by 143.5% in the second quarter. First Horizon Advisors Inc. now owns 1,315 shares of the exchange traded fund’s stock valued at $38,000 after acquiring an additional 775 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of iShares MSCI Brazil ETF by 388.0% in the third quarter. Farther Finance Advisors LLC now owns 1,220 shares of the exchange traded fund’s stock worth $38,000 after acquiring an additional 970 shares during the last quarter. 72.69% of the stock is owned by hedge funds and other institutional investors.

iShares MSCI Brazil ETF Stock Performance

Shares of EWZ opened at $37.56 on Friday. The stock has a 50 day moving average price of $33.76 and a 200 day moving average price of $31.29. iShares MSCI Brazil ETF has a one year low of $23.05 and a one year high of $38.88. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 9.58 and a beta of 0.87.

About iShares MSCI Brazil ETF

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