iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) Sets New 12-Month High – Still a Buy?

iShares MSCI Emerging Markets ETF (NYSEARCA:EEM)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $59.39 and last traded at $59.17, with a volume of 37850103 shares traded. The stock had previously closed at $59.07.

iShares MSCI Emerging Markets ETF Trading Up 0.7%

The company has a market cap of $26.00 billion, a price-to-earnings ratio of 14.46 and a beta of 0.64. The company’s 50 day moving average price is $55.63 and its 200 day moving average price is $53.30.

Hedge Funds Weigh In On iShares MSCI Emerging Markets ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in EEM. Pandora Wealth Inc. increased its holdings in shares of iShares MSCI Emerging Markets ETF by 15.4% in the 2nd quarter. Pandora Wealth Inc. now owns 9,641 shares of the exchange traded fund’s stock worth $465,000 after acquiring an additional 1,290 shares during the period. Clarity Wealth Advisors LLC grew its position in iShares MSCI Emerging Markets ETF by 12.0% in the 3rd quarter. Clarity Wealth Advisors LLC now owns 174,748 shares of the exchange traded fund’s stock worth $9,332,000 after purchasing an additional 18,658 shares during the last quarter. Endowment Wealth Management Inc. grew its position in iShares MSCI Emerging Markets ETF by 24.7% in the 2nd quarter. Endowment Wealth Management Inc. now owns 37,084 shares of the exchange traded fund’s stock worth $1,789,000 after purchasing an additional 7,352 shares during the last quarter. Allianz SE increased its stake in shares of iShares MSCI Emerging Markets ETF by 2.9% in the second quarter. Allianz SE now owns 374,750 shares of the exchange traded fund’s stock valued at $18,078,000 after purchasing an additional 10,656 shares during the period. Finally, Allium Financial Advisors LLC increased its stake in shares of iShares MSCI Emerging Markets ETF by 108.0% in the second quarter. Allium Financial Advisors LLC now owns 82,068 shares of the exchange traded fund’s stock valued at $3,959,000 after purchasing an additional 42,613 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.

About iShares MSCI Emerging Markets ETF

iShares MSCI Emerging Markets ETF, formerly iShares MSCI Emerging Markets Index Fund (the Fund), seeks investment results that correspond generally to the price and yield performance of publicly traded equity securities in global emerging markets, as measured by the MSCI Emerging Markets Index (the Index). The Index is designed to measure equity market performance in the global emerging markets. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.