iShares MSCI UAE ETF (NASDAQ:UAE) Sees Large Decline in Short Interest

iShares MSCI UAE ETF (NASDAQ:UAE) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 1,226,867 shares, a decline of 56.9% from the May 31st total of 2,843,302 shares. Based on an average daily trading volume, of 389,223 shares, the short-interest ratio is currently 3.2 days. Currently, 8.3% of the shares of the stock are short sold.

iShares MSCI UAE ETF Price Performance

NASDAQ:UAE traded up $0.03 during trading hours on Wednesday, hitting $19.04. The company’s stock had a trading volume of 93,530 shares, compared to its average volume of 579,619. iShares MSCI UAE ETF has a twelve month low of $17.29 and a twelve month high of $22.29. The stock has a fifty day simple moving average of $19.26 and a 200-day simple moving average of $19.60. The company has a market capitalization of $279.89 million, a P/E ratio of 10.93 and a beta of 0.42.

iShares MSCI UAE ETF Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were issued a $0.6631 dividend. The ex-dividend date of this dividend was Monday, June 15th.

Institutional Investors Weigh In On iShares MSCI UAE ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in iShares MSCI UAE ETF in the second quarter valued at approximately $205,000. J. Safra Sarasin Holding AG acquired a new position in iShares MSCI UAE ETF in the 1st quarter worth about $255,000. Cetera Investment Advisers acquired a new position in iShares MSCI UAE ETF in the 4th quarter worth about $354,000. Financial & Tax Architects LLC bought a new stake in shares of iShares MSCI UAE ETF during the first quarter worth about $391,000. Finally, Royal Bank of Canada grew its holdings in shares of iShares MSCI UAE ETF by 60.6% during the first quarter. Royal Bank of Canada now owns 22,774 shares of the company’s stock worth $386,000 after purchasing an additional 8,594 shares during the last quarter.

About iShares MSCI UAE ETF

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.