iShares MSCI Kuwait ETF (BATS:KWT) Trading Up 3.5% – Here’s What Happened

iShares MSCI Kuwait ETF (BATS:KWT)’s stock price shot up 3.5% during trading on Friday . The stock traded as high as $35.67 and last traded at $36.78. 1,915 shares were traded during trading, a decline of 81% from the average session volume of 9,896 shares. The stock had previously closed at $35.54.

iShares MSCI Kuwait ETF Price Performance

The stock has a market cap of $86.43 million, a P/E ratio of 16.39 and a beta of 0.45. The company has a fifty day moving average of $36.35 and a 200 day moving average of $34.80.

Institutional Investors Weigh In On iShares MSCI Kuwait ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KWT. Yousif Capital Management LLC raised its holdings in iShares MSCI Kuwait ETF by 6.8% during the fourth quarter. Yousif Capital Management LLC now owns 34,352 shares of the company’s stock worth $1,107,000 after purchasing an additional 2,200 shares in the last quarter. Rhumbline Advisers raised its holdings in iShares MSCI Kuwait ETF by 11.8% during the fourth quarter. Rhumbline Advisers now owns 82,530 shares of the company’s stock worth $2,659,000 after purchasing an additional 8,710 shares in the last quarter. OLD Mission Capital LLC bought a new stake in iShares MSCI Kuwait ETF during the fourth quarter worth approximately $307,000. Comerica Bank raised its holdings in iShares MSCI Kuwait ETF by 6.8% during the fourth quarter. Comerica Bank now owns 34,352 shares of the company’s stock worth $1,107,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its holdings in iShares MSCI Kuwait ETF by 3.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 25,095 shares of the company’s stock worth $810,000 after purchasing an additional 800 shares in the last quarter.

iShares MSCI Kuwait ETF Company Profile

The iShares MSCI Kuwait ETF (KWT) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of all-cap stocks in Kuwait. KWT was launched on Sep 1, 2020 and is managed by BlackRock.