iShares MSCI Italy ETF (NYSEARCA:EWI) Hits New 1-Year High – What’s Next?

Shares of iShares MSCI Italy ETF (NYSEARCA:EWI) hit a new 52-week high during trading on Wednesday . The company traded as high as $61.27 and last traded at $61.12, with a volume of 11932 shares trading hands. The stock had previously closed at $60.52.

iShares MSCI Italy ETF Stock Down 2.2%

The company’s fifty day simple moving average is $59.62 and its two-hundred day simple moving average is $57.06. The company has a market capitalization of $940.59 million, a price-to-earnings ratio of 12.30 and a beta of 0.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Contravisory Investment Management Inc. grew its stake in shares of iShares MSCI Italy ETF by 2.0% during the 2nd quarter. Contravisory Investment Management Inc. now owns 23,232 shares of the exchange traded fund’s stock worth $1,376,000 after acquiring an additional 459 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of iShares MSCI Italy ETF in the first quarter worth $233,000. CacheTech Inc. boosted its holdings in iShares MSCI Italy ETF by 2.4% during the first quarter. CacheTech Inc. now owns 155,026 shares of the exchange traded fund’s stock worth $8,281,000 after purchasing an additional 3,668 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in iShares MSCI Italy ETF by 20.4% during the first quarter. Bank of New York Mellon Corp now owns 6,536 shares of the exchange traded fund’s stock worth $349,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Global Assets Advisory LLC boosted its holdings in iShares MSCI Italy ETF by 9.6% during the first quarter. Global Assets Advisory LLC now owns 8,990 shares of the exchange traded fund’s stock worth $480,000 after purchasing an additional 785 shares during the last quarter. 37.96% of the stock is owned by institutional investors and hedge funds.

About iShares MSCI Italy ETF

iShares MSCI Italy Capped ETF, formerly iShares MSCI Italy Capped Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Italy 25/50 Index (Index). The Index consists of stocks traded primarily on the Milan Stock Exchange. The Underlying Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no single issuer of a component exceeds 25% of the Underlying Index weight and all issuers with weight above 5% do not exceed 50% of the Underlying Index weight.