iShares MSCI UAE ETF (NASDAQ:UAE) Short Interest Down 27.6% in April

iShares MSCI UAE ETF (NASDAQ:UAE) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 468,300 shares, a decline of 27.6% from the March 31st total of 647,100 shares. Based on an average daily trading volume, of 175,300 shares, the days-to-cover ratio is presently 2.7 days. Approximately 8.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of UAE. Bank of Montreal Can acquired a new position in iShares MSCI UAE ETF during the 4th quarter worth approximately $244,000. Marshall Wace LLP bought a new position in iShares MSCI UAE ETF during the fourth quarter worth $259,000. Sunbelt Securities Inc. bought a new position in iShares MSCI UAE ETF in the fourth quarter worth approximately $367,000. Zacks Investment Management acquired a new position in shares of iShares MSCI UAE ETF during the fourth quarter valued at about $452,000. Finally, Citadel Advisors LLC bought a new stake in iShares MSCI UAE ETF during the 4th quarter worth approximately $700,000.

iShares MSCI UAE ETF Stock Up 1.0 %

Shares of NASDAQ:UAE opened at $18.14 on Friday. iShares MSCI UAE ETF has a 12-month low of $13.25 and a 12-month high of $18.16. The stock has a market cap of $105.21 million, a PE ratio of 9.39 and a beta of 0.64. The business has a 50 day moving average of $16.92 and a 200-day moving average of $16.43.

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.