iShares MSCI Italy ETF (NYSEARCA:EWI) Hits New 1-Year High – Should You Buy?

iShares MSCI Italy ETF (NYSEARCA:EWI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.33 and last traded at $58.17, with a volume of 294166 shares. The stock had previously closed at $57.72.

iShares MSCI Italy ETF Stock Performance

The stock has a market cap of $684.66 million, a PE ratio of 12.30 and a beta of 0.87. The stock has a fifty day simple moving average of $54.82 and a two-hundred day simple moving average of $53.80.

Hedge Funds Weigh In On iShares MSCI Italy ETF

A number of institutional investors and hedge funds have recently bought and sold shares of EWI. Principal Financial Group Inc. purchased a new position in iShares MSCI Italy ETF in the 3rd quarter worth approximately $10,240,000. Ameriprise Financial Inc. boosted its holdings in iShares MSCI Italy ETF by 24.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 710,888 shares of the exchange traded fund’s stock worth $34,227,000 after acquiring an additional 139,088 shares during the period. Ocean Park Asset Management LLC purchased a new position in iShares MSCI Italy ETF in the 3rd quarter worth approximately $7,027,000. Thrivent Financial for Lutherans purchased a new position in iShares MSCI Italy ETF in the 3rd quarter worth approximately $6,724,000. Finally, TD Waterhouse Canada Inc. purchased a new position in iShares MSCI Italy ETF in the 4th quarter worth approximately $6,490,000. Hedge funds and other institutional investors own 37.96% of the company’s stock.

About iShares MSCI Italy ETF

iShares MSCI Italy Capped ETF, formerly iShares MSCI Italy Capped Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Italy 25/50 Index (Index). The Index consists of stocks traded primarily on the Milan Stock Exchange. The Underlying Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no single issuer of a component exceeds 25% of the Underlying Index weight and all issuers with weight above 5% do not exceed 50% of the Underlying Index weight.