iShares MSCI Japan ETF (NYSEARCA:EWJ) Hits New 12-Month High – Should You Buy?

Shares of iShares MSCI Japan ETF (NYSEARCA:EWJ) reached a new 52-week high on Friday. The stock traded as high as $99.16 and last traded at $99.0820, with a volume of 660735 shares traded. The stock had previously closed at $97.38.

iShares MSCI Japan ETF Trading Up 1.1%

The business’s fifty day simple moving average is $95.96 and its 200-day simple moving average is $92.27. The firm has a market cap of $23.62 billion, a P/E ratio of 14.63 and a beta of 0.69.

Hedge Funds Weigh In On iShares MSCI Japan ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its holdings in shares of iShares MSCI Japan ETF by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,990,384 shares of the exchange traded fund’s stock worth $558,723,000 after purchasing an additional 128,092 shares in the last quarter. Royal Bank of Canada lifted its position in shares of iShares MSCI Japan ETF by 98.6% in the first quarter. Royal Bank of Canada now owns 5,048,553 shares of the exchange traded fund’s stock worth $426,300,000 after buying an additional 2,506,472 shares in the last quarter. First Command Advisory Services Inc. lifted its position in iShares MSCI Japan ETF by 0.3% during the fourth quarter. First Command Advisory Services Inc. now owns 4,993,457 shares of the exchange traded fund’s stock valued at $403,172,000 after purchasing an additional 13,894 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of iShares MSCI Japan ETF by 0.4% in the 4th quarter. TD Asset Management Inc now owns 2,671,796 shares of the exchange traded fund’s stock worth $215,721,000 after purchasing an additional 11,881 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in iShares MSCI Japan ETF by 11.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,034,620 shares of the exchange traded fund’s stock worth $171,803,000 after purchasing an additional 203,875 shares during the period. Hedge funds and other institutional investors own 64.60% of the company’s stock.

About iShares MSCI Japan ETF

iShares MSCI Japan ETF (the fund), formerly Ishares Msci Japan Index Fund, is an exchange-traded fund. 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 Japanese market, as measured by the MSCI Japan Index (the Index). The Index consists of stocks traded primarily on the Tokyo Stock Exchange. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.