iShares MSCI UAE ETF (NASDAQ:UAE) Shares Up 2.2% – Should You Buy?

iShares MSCI UAE ETF (NASDAQ:UAE)’s stock price shot up 2.2% on Tuesday . The stock traded as high as $18.51 and last traded at $18.30. 1,230,902 shares changed hands during trading, an increase of 79% from the average session volume of 686,767 shares. The stock had previously closed at $17.90.

iShares MSCI UAE ETF Price Performance

The stock’s fifty day moving average is $20.42 and its 200-day moving average is $19.65. The stock has a market capitalization of $146.94 million, a PE ratio of 10.93 and a beta of 0.41.

Institutional Investors Weigh In On iShares MSCI UAE ETF

Hedge funds have recently modified their holdings of the company. Mondrian Investment Partners LTD increased its stake in shares of iShares MSCI UAE ETF by 4.9% in the 4th quarter. Mondrian Investment Partners LTD now owns 707,227 shares of the company’s stock valued at $13,522,000 after purchasing an additional 33,035 shares in the last quarter. Jane Street Group LLC grew its holdings in iShares MSCI UAE ETF by 68.0% in the second quarter. Jane Street Group LLC now owns 670,818 shares of the company’s stock valued at $12,558,000 after purchasing an additional 271,523 shares during the period. Moran Wealth Management LLC grew its holdings in iShares MSCI UAE ETF by 2.1% in the third quarter. Moran Wealth Management LLC now owns 486,301 shares of the company’s stock valued at $9,186,000 after purchasing an additional 10,056 shares during the period. HighTower Advisors LLC purchased a new stake in shares of iShares MSCI UAE ETF in the fourth quarter valued at approximately $8,870,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of iShares MSCI UAE ETF by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 376,970 shares of the company’s stock worth $7,208,000 after buying an additional 15,379 shares during the period.

iShares MSCI UAE ETF Company Profile

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.