iShares Core MSCI Pacific ETF (NYSEARCA:IPAC) Sees Strong Trading Volume – Here’s Why

Shares of iShares Core MSCI Pacific ETF (NYSEARCA:IPAC) saw unusually-high trading volume on Friday . 486,940 shares changed hands during trading, an increase of 310% from the previous session’s volume of 118,753 shares.The stock last traded at $85.45 and had previously closed at $85.50.

iShares Core MSCI Pacific ETF Price Performance

The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.73 and a beta of 0.71. The stock’s 50 day simple moving average is $83.37 and its 200-day simple moving average is $81.48.

Institutional Investors Weigh In On iShares Core MSCI Pacific ETF

A number of large investors have recently bought and sold shares of IPAC. Royal Bank of Canada lifted its stake in shares of iShares Core MSCI Pacific ETF by 122.8% in the first quarter. Royal Bank of Canada now owns 50,433 shares of the company’s stock worth $3,138,000 after buying an additional 27,794 shares during the last quarter. Jane Street Group LLC raised its stake in shares of iShares Core MSCI Pacific ETF by 40.9% in the first quarter. Jane Street Group LLC now owns 46,748 shares of the company’s stock valued at $2,910,000 after purchasing an additional 13,567 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of iShares Core MSCI Pacific ETF by 34.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,056 shares of the company’s stock valued at $141,000 after buying an additional 527 shares in the last quarter. Quantinno Capital Management LP bought a new position in iShares Core MSCI Pacific ETF during the second quarter worth about $1,264,000. Finally, IHT Wealth Management LLC bought a new position in shares of iShares Core MSCI Pacific ETF during the 2nd quarter worth approximately $248,000.

About iShares Core MSCI Pacific ETF

The iShares Core MSCI Pacific ETF (IPAC) is an exchange-traded fund that is based on the MSCI Pacific IMI index, a market-cap-weighted index of developed Pacific securities. IPAC was launched on Jun 10, 2014 and is managed by BlackRock.