iShares MSCI Brazil ETF (NYSEARCA:EWZ) Sets New 52-Week High – Time to Buy?

iShares MSCI Brazil ETF (NYSEARCA:EWZ) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.83 and last traded at $34.8530, with a volume of 34956028 shares. The stock had previously closed at $33.62.

iShares MSCI Brazil ETF Stock Performance

The firm has a market capitalization of $7.64 billion, a P/E ratio of 9.58 and a beta of 0.87. The stock has a fifty day moving average price of $32.64 and a two-hundred day moving average price of $30.45.

Institutional Trading of iShares MSCI Brazil ETF

A number of institutional investors and hedge funds have recently modified their holdings of EWZ. Royal Bank of Canada boosted its holdings in shares of iShares MSCI Brazil ETF by 18.0% in the 1st quarter. Royal Bank of Canada now owns 344,041 shares of the exchange traded fund’s stock valued at $8,894,000 after buying an additional 52,532 shares during the period. NewEdge Advisors LLC lifted its holdings in iShares MSCI Brazil ETF by 819.7% in the first quarter. NewEdge Advisors LLC now owns 1,683 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 1,500 shares during the last quarter. Parallel Advisors LLC boosted its stake in iShares MSCI Brazil ETF by 60.0% in the second quarter. Parallel Advisors LLC now owns 1,760 shares of the exchange traded fund’s stock valued at $51,000 after acquiring an additional 660 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of iShares MSCI Brazil ETF during the second quarter valued at approximately $400,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of iShares MSCI Brazil ETF during the second quarter valued at approximately $876,000. 72.69% of the stock is owned by institutional investors and hedge funds.

About iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.