iShares MSCI Canada ETF (NYSEARCA:EWC) Reaches New 1-Year High – What’s Next?

iShares MSCI Canada ETF (NYSEARCA:EWC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.69 and last traded at $59.61, with a volume of 109641 shares traded. The stock had previously closed at $59.05.

iShares MSCI Canada ETF Stock Down 0.8%

The business’s 50 day moving average is $58.36 and its two-hundred day moving average is $56.95. The firm has a market cap of $6.01 billion, a P/E ratio of 19.77 and a beta of 0.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of iShares MSCI Canada ETF by 1,675.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,178,045 shares of the exchange traded fund’s stock valued at $171,392,000 after buying an additional 2,999,053 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in iShares MSCI Canada ETF in the 2nd quarter valued at $51,589,000. Graham Capital Management L.P. raised its position in iShares MSCI Canada ETF by 525.5% in the 4th quarter. Graham Capital Management L.P. now owns 806,849 shares of the exchange traded fund’s stock valued at $43,513,000 after buying an additional 677,849 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new stake in iShares MSCI Canada ETF in the 1st quarter valued at $30,134,000. Finally, Metis Global Partners LLC bought a new position in iShares MSCI Canada ETF during the 4th quarter valued at $25,125,000.

About iShares MSCI Canada ETF

iShares MSCI Canada ETF (the Fund), formerly iShares MSCI Canada Index Fund, is an exchange-traded fund (ETF). The 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 Canadian market, as measured by the MSCI Canada Index (the Index). The Index seeks to measure the performance of the Canadian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.