iShares MSCI Brazil ETF (NYSEARCA:EWZ) Stock Short Interest Jumps 61.1%

iShares MSCI Brazil ETF (NYSEARCA:EWZ) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 56,434,805 shares, a growth of 61.1% from the August 31st total of 35,037,153 shares. Based on an average daily volume of 27,219,618 shares, the days-to-cover ratio is currently 2.1 days. Currently, 24.6% of the shares of the stock are sold short.

iShares MSCI Brazil ETF Price Performance

NYSEARCA EWZ traded down $0.11 during mid-day trading on Thursday, hitting $37.14. The stock had a trading volume of 34,702,753 shares, compared to its average volume of 29,099,211. The firm’s 50 day moving average is $36.32 and its 200 day moving average is $36.64. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 9.58 and a beta of 0.62. iShares MSCI Brazil ETF has a twelve month low of $28.66 and a twelve month high of $42.02.

Hedge Funds Weigh In On iShares MSCI Brazil ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Nova Scotia grew its stake in iShares MSCI Brazil ETF by 10,490.4% during the 1st quarter. Bank of Nova Scotia now owns 5,507,028 shares of the exchange traded fund’s stock valued at $211,416,000 after acquiring an additional 5,455,028 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of iShares MSCI Brazil ETF by 12,304.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,119,561 shares of the exchange traded fund’s stock worth $119,760,000 after purchasing an additional 3,094,413 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of iShares MSCI Brazil ETF during the 1st quarter worth approximately $108,733,000. SG Americas Securities LLC grew its position in shares of iShares MSCI Brazil ETF by 645.6% in the first quarter. SG Americas Securities LLC now owns 2,344,250 shares of the exchange traded fund’s stock valued at $89,996,000 after purchasing an additional 2,029,838 shares in the last quarter. Finally, Temasek Holdings Private Ltd purchased a new stake in shares of iShares MSCI Brazil ETF in the first quarter valued at approximately $41,339,000. 72.69% of the stock is owned by hedge funds and other institutional investors.

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.