iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Down 6.5% – Here’s Why

iShares MSCI South Korea ETF (NYSEARCA:EWY) dropped 6.5% during trading on Thursday . The stock traded as low as $196.57 and last traded at $199.02. Approximately 5,117,036 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 18,793,566 shares. The stock had previously closed at $212.96.

iShares MSCI South Korea ETF Stock Performance

The company’s fifty day moving average price is $164.14 and its 200 day moving average price is $131.21. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 10.35 and a beta of 1.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of iShares MSCI South Korea ETF by 102.5% in the 1st quarter. Bank of America Corp DE now owns 10,928,797 shares of the exchange traded fund’s stock valued at $1,344,351,000 after buying an additional 5,532,980 shares during the period. Morgan Stanley lifted its position in iShares MSCI South Korea ETF by 31.5% in the 4th quarter. Morgan Stanley now owns 3,405,205 shares of the exchange traded fund’s stock valued at $331,054,000 after purchasing an additional 814,877 shares during the last quarter. Bridgewater Associates LP lifted its position in iShares MSCI South Korea ETF by 1.8% in the 4th quarter. Bridgewater Associates LP now owns 2,072,358 shares of the exchange traded fund’s stock valued at $201,475,000 after purchasing an additional 37,242 shares during the last quarter. Hsbc Holdings PLC grew its position in iShares MSCI South Korea ETF by 1,764.2% in the 4th quarter. Hsbc Holdings PLC now owns 1,897,337 shares of the exchange traded fund’s stock worth $184,457,000 after purchasing an additional 1,795,557 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in iShares MSCI South Korea ETF by 135.8% in the 1st quarter. Bank of Nova Scotia now owns 1,823,820 shares of the exchange traded fund’s stock worth $224,348,000 after purchasing an additional 1,050,220 shares during the last quarter. 49.22% of the stock is owned by institutional investors and hedge funds.

iShares MSCI South Korea ETF Company Profile

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