iShares MSCI Kuwait ETF (BATS:KWT) Sees Significant Increase in Short Interest

iShares MSCI Kuwait ETF (BATS:KWT) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 105,198 shares, a growth of 1,177.3% from the July 15th total of 8,236 shares. Based on an average trading volume of 13,549 shares, the days-to-cover ratio is presently 7.8 days. Approximately 4.5% of the company’s shares are sold short.

Hedge Funds Weigh In On iShares MSCI Kuwait ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in iShares MSCI Kuwait ETF by 25.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,031 shares of the company’s stock worth $153,000 after buying an additional 826 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in iShares MSCI Kuwait ETF by 36.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,523 shares of the company’s stock valued at $288,000 after acquiring an additional 2,000 shares during the period. Militia Capital Management LLC bought a new stake in shares of iShares MSCI Kuwait ETF in the first quarter worth about $282,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of iShares MSCI Kuwait ETF in the first quarter worth about $357,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of iShares MSCI Kuwait ETF in the fourth quarter worth about $458,000.

iShares MSCI Kuwait ETF Stock Up 0.2%

BATS KWT traded up $0.08 during trading on Tuesday, reaching $37.32. 66 shares of the stock traded hands, compared to its average volume of 8,356. iShares MSCI Kuwait ETF has a fifty-two week low of $35.54 and a fifty-two week high of $41.08. The firm has a market cap of $87.70 million, a price-to-earnings ratio of 17.65 and a beta of 0.45. The stock’s 50-day moving average price is $36.85 and its 200 day moving average price is $37.18.

About iShares MSCI Kuwait ETF

The iShares MSCI Kuwait ETF (KWT) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of all-cap stocks in Kuwait. KWT was launched on Sep 1, 2020 and is managed by BlackRock.