iShares MSCI Brazil ETF (NYSEARCA:EWZ) Reaches New 12-Month High – Still a Buy?

Shares of iShares MSCI Brazil ETF (NYSEARCA:EWZ) reached a new 52-week high on Wednesday . The company traded as high as $39.21 and last traded at $39.0880, with a volume of 390244 shares. The stock had previously closed at $38.32.

iShares MSCI Brazil ETF Trading Up 1.4%

The company’s 50-day moving average is $33.94 and its two-hundred day moving average is $31.48. The stock has a market capitalization of $9.18 billion, a P/E ratio of 9.58 and a beta of 0.87.

Hedge Funds Weigh In On iShares MSCI Brazil ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its stake in shares of iShares MSCI Brazil ETF by 16.7% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the exchange traded fund’s stock worth $65,000 after purchasing an additional 293 shares in the last quarter. 3EDGE Asset Management LP increased its stake in shares of iShares MSCI Brazil ETF by 2.6% during the 4th quarter. 3EDGE Asset Management LP now owns 14,885 shares of the exchange traded fund’s stock worth $473,000 after purchasing an additional 382 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of iShares MSCI Brazil ETF by 11.0% during the 3rd quarter. Global Retirement Partners LLC now owns 3,975 shares of the exchange traded fund’s stock worth $123,000 after purchasing an additional 395 shares during the last quarter. Nwam LLC raised its holdings in shares of iShares MSCI Brazil ETF by 2.2% during the 4th quarter. Nwam LLC now owns 18,410 shares of the exchange traded fund’s stock valued at $585,000 after purchasing an additional 397 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. lifted its stake in shares of iShares MSCI Brazil ETF by 5.4% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 8,093 shares of the exchange traded fund’s stock valued at $251,000 after purchasing an additional 413 shares during the last quarter. 72.69% of the stock is currently owned by institutional investors and hedge funds.

iShares MSCI Brazil ETF Company Profile

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.