iShares Asia 50 ETF (NASDAQ:AIA) Hits New 12-Month High – Here’s Why

iShares Asia 50 ETF (NASDAQ:AIA) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $122.96 and last traded at $122.78, with a volume of 55283 shares. The stock had previously closed at $119.91.

iShares Asia 50 ETF Price Performance

The company’s 50-day moving average is $112.33 and its 200-day moving average is $104.38. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 13.81 and a beta of 0.74.

Institutional Investors Weigh In On iShares Asia 50 ETF

Several hedge funds have recently modified their holdings of the stock. Patten Group Inc. boosted its position in shares of iShares Asia 50 ETF by 16.7% in the first quarter. Patten Group Inc. now owns 3,001 shares of the company’s stock worth $319,000 after acquiring an additional 430 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of iShares Asia 50 ETF by 24.4% in the first quarter. Apollon Wealth Management LLC now owns 9,846 shares of the company’s stock worth $1,045,000 after acquiring an additional 1,931 shares during the last quarter. CrossGen Wealth LLC acquired a new stake in shares of iShares Asia 50 ETF in the first quarter worth approximately $56,000. Aurora Private Wealth Inc. acquired a new stake in shares of iShares Asia 50 ETF in the first quarter worth approximately $584,000. Finally, SB Capital Management Inc acquired a new stake in shares of iShares Asia 50 ETF in the fourth quarter worth approximately $1,177,000.

iShares Asia 50 ETF Company Profile

iShares Asia 50 ETF (the Fund), formerly iShares S&P Asia 50 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Asia 50 Index (the Index). The Index is a free float-adjusted, market capitalization-weighted index that is designed to measure the performance of the 50 leading companies from four Asian markets: Hong Kong, Singapore, South Korea and Taiwan. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.