iShares MSCI United Kingdom ETF (NYSEARCA:EWU) Sets New 1-Year High – Time to Buy?

Shares of iShares MSCI United Kingdom ETF (NYSEARCA:EWU) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $47.52 and last traded at $47.4850, with a volume of 1399770 shares trading hands. The stock had previously closed at $47.25.

iShares MSCI United Kingdom ETF Stock Performance

The company has a fifty day simple moving average of $45.04 and a 200 day simple moving average of $43.08. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 15.42 and a beta of 0.71.

Hedge Funds Weigh In On iShares MSCI United Kingdom ETF

A number of hedge funds have recently bought and sold shares of EWU. Retirement Planning Group LLC purchased a new stake in shares of iShares MSCI United Kingdom ETF during the second quarter valued at approximately $302,000. Brookstone Capital Management raised its stake in shares of iShares MSCI United Kingdom ETF by 33.4% during the 2nd quarter. Brookstone Capital Management now owns 8,300 shares of the company’s stock worth $330,000 after purchasing an additional 2,080 shares during the period. Sharper & Granite LLC boosted its holdings in shares of iShares MSCI United Kingdom ETF by 4.5% in the 2nd quarter. Sharper & Granite LLC now owns 124,741 shares of the company’s stock worth $4,941,000 after buying an additional 5,365 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of iShares MSCI United Kingdom ETF by 4.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 467,703 shares of the company’s stock worth $18,577,000 after buying an additional 21,457 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in iShares MSCI United Kingdom ETF during the second quarter valued at about $137,000. 58.38% of the stock is owned by hedge funds and other institutional investors.

About iShares MSCI United Kingdom ETF

The iShares MSCI United Kingdom ETF (EWU) is an exchange-traded fund that is based on the MSCI United Kingdom index. The fund tracks a market cap-weighted index of British companies. It covers the top 85% of British companies by market cap. EWU was launched on Mar 12, 1996 and is managed by BlackRock.