iShares MSCI Turkey ETF (NASDAQ:TUR) Shares Up 0.5% – Still a Buy?

iShares MSCI Turkey ETF (NASDAQ:TUR)’s share price traded up 0.5% on Friday. The stock traded as high as $32.24 and last traded at $32.20. Approximately 52,907 shares changed hands during trading, a decline of 80% from the average daily volume of 267,827 shares. The stock had previously closed at $32.05.

iShares MSCI Turkey ETF Price Performance

The firm has a market cap of $164.22 million, a P/E ratio of 8.79 and a beta of 0.33. The stock’s 50 day moving average is $34.25 and its two-hundred day moving average is $38.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TUR. BlueCrest Capital Management Ltd bought a new stake in shares of iShares MSCI Turkey ETF in the 2nd quarter valued at approximately $6,166,000. Arlington Capital Management Inc. acquired a new position in shares of iShares MSCI Turkey ETF in the 2nd quarter worth approximately $5,009,000. Group One Trading LLC lifted its position in shares of iShares MSCI Turkey ETF by 5.8% during the 1st quarter. Group One Trading LLC now owns 67,857 shares of the exchange traded fund’s stock worth $2,623,000 after buying an additional 3,731 shares during the period. Hilltop Holdings Inc. bought a new position in shares of iShares MSCI Turkey ETF during the 1st quarter worth approximately $1,086,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of iShares MSCI Turkey ETF during the 1st quarter worth approximately $425,000. Institutional investors own 44.58% of the company’s stock.

iShares MSCI Turkey ETF Company Profile

iShares MSCI Turkey ETF (the Fund), formerly The iShares MSCI Turkey Investable Market Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the MSCI Turkey Investable Market Index (the Underlying Index). The Underlying Index is a free float-adjusted market capitalization index designed to measure equity market performance in Turkey. As of September 7, 2012, the Fund invests in sectors, such as financials, consumer staples, industrials, telecommunication services, materials, consumer discretionary, energy, healthcare, utilities and information technology.