iShares MSCI Kuwait ETF (BATS:KWT) Short Interest Down 95.7% in August

iShares MSCI Kuwait ETF (BATS:KWT) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 4,529 shares, a drop of 95.7% from the July 30th total of 105,198 shares. Based on an average daily trading volume, of 825 shares, the days-to-cover ratio is currently 5.5 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 826 shares during the last quarter. Compass Financial Management LLC acquired a new stake in iShares MSCI Kuwait ETF in the 2nd quarter valued at about $53,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in iShares MSCI Kuwait ETF by 21.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,123 shares of the company’s stock valued at $330,000 after purchasing an additional 1,600 shares during the last quarter. Citadel Advisors LLC grew its holdings in iShares MSCI Kuwait ETF by 12.4% during the third quarter. Citadel Advisors LLC now owns 18,610 shares of the company’s stock worth $737,000 after purchasing an additional 2,051 shares during the period. Finally, Robbins Farley bought a new position in iShares MSCI Kuwait ETF during the second quarter worth about $99,000.

iShares MSCI Kuwait ETF Stock Performance

KWT traded up $0.14 during trading on Tuesday, reaching $37.64. 5,032 shares of the stock were exchanged, compared to its average volume of 7,890. The stock has a market cap of $88.45 million, a P/E ratio of 17.65 and a beta of 0.45. iShares MSCI Kuwait ETF has a twelve month low of $35.54 and a twelve month high of $41.08. The stock’s 50 day moving average price is $36.73 and its two-hundred day moving average price is $37.16.

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.