iShares MSCI China ETF (NASDAQ:MCHI) Reaches New 12-Month High – Here’s Why

iShares MSCI China ETF (NASDAQ:MCHI) hit a new 52-week high during trading on Monday . The company traded as high as $64.57 and last traded at $64.46, with a volume of 156369 shares traded. The stock had previously closed at $63.95.

iShares MSCI China ETF Price Performance

The company has a market cap of $7.90 billion, a P/E ratio of 13.11 and a beta of 0.49. The stock has a 50-day moving average of $59.09 and a 200 day moving average of $55.55.

Institutional Trading of iShares MSCI China ETF

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of iShares MSCI China ETF by 6,784.5% during the first quarter. GAMMA Investing LLC now owns 8,528,995 shares of the company’s stock valued at $463,977,000 after purchasing an additional 8,405,108 shares in the last quarter. Demars Financial Group LLC lifted its stake in shares of iShares MSCI China ETF by 24.3% in the first quarter. Demars Financial Group LLC now owns 4,014,164 shares of the company’s stock worth $218,371,000 after acquiring an additional 785,755 shares during the period. Meitav Investment House Ltd. lifted its stake in shares of iShares MSCI China ETF by 0.4% in the second quarter. Meitav Investment House Ltd. now owns 2,601,233 shares of the company’s stock worth $143,385,000 after acquiring an additional 9,972 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of iShares MSCI China ETF by 35,780.1% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,545,357 shares of the company’s stock worth $84,067,000 after acquiring an additional 1,541,050 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of iShares MSCI China ETF by 1.8% during the first quarter. LPL Financial LLC now owns 1,426,513 shares of the company’s stock valued at $77,602,000 after acquiring an additional 25,210 shares in the last quarter.

About iShares MSCI China ETF

iShares MSCI China ETF, formerly iShares MSCI China Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond to the price and yield performance, of the MSCI China Index (the Underlying Index). The Fund is designed to measure the performance of the top 85% of equity securities by market capitalization in the Chinese equity markets.