iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Sees Significant Increase in Short Interest

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 6,597,917 shares, a growth of 18.5% from the February 26th total of 5,569,034 shares. Based on an average daily volume of 1,400,991 shares, the short-interest ratio is presently 4.7 days. Approximately 39.3% of the company’s shares are sold short.

Hedge Funds Weigh In On iShares MSCI Saudi Arabia ETF

Several institutional investors have recently bought and sold shares of KSA. Steward Partners Investment Advisory LLC lifted its position in shares of iShares MSCI Saudi Arabia ETF by 168.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 693 shares of the company’s stock worth $25,000 after purchasing an additional 435 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of iShares MSCI Saudi Arabia ETF in the first quarter valued at approximately $41,000. Farther Finance Advisors LLC grew its holdings in shares of iShares MSCI Saudi Arabia ETF by 169.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,308 shares of the company’s stock valued at $48,000 after purchasing an additional 822 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in iShares MSCI Saudi Arabia ETF during the 3rd quarter worth approximately $69,000. Finally, Triumph Capital Management purchased a new stake in iShares MSCI Saudi Arabia ETF during the 3rd quarter worth approximately $70,000.

iShares MSCI Saudi Arabia ETF Stock Performance

Shares of KSA traded up $0.52 during midday trading on Tuesday, hitting $39.31. 176,198 shares of the stock were exchanged, compared to its average volume of 1,041,197. iShares MSCI Saudi Arabia ETF has a 52-week low of $35.81 and a 52-week high of $41.55. The stock has a fifty day simple moving average of $38.47 and a 200 day simple moving average of $38.48. The firm has a market cap of $660.41 million, a P/E ratio of 15.67 and a beta of 0.46.

iShares MSCI Saudi Arabia ETF Company Profile

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.