iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Hits New 52-Week Low – Should You Sell?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $35.95 and last traded at $35.9990, with a volume of 78206 shares trading hands. The stock had previously closed at $36.81.

iShares MSCI Saudi Arabia ETF Trading Down 2.3%

The firm has a market capitalization of $667.32 million, a price-to-earnings ratio of 15.67 and a beta of 0.46. The business has a 50-day moving average price of $39.09 and a two-hundred day moving average price of $38.43.

Institutional Investors Weigh In On iShares MSCI Saudi Arabia ETF

A number of hedge funds have recently added to or reduced their stakes in KSA. Blue Trust Inc. grew its holdings in iShares MSCI Saudi Arabia ETF by 2.7% in the 2nd quarter. Blue Trust Inc. now owns 16,554 shares of the company’s stock worth $638,000 after buying an additional 443 shares in the last quarter. Blair William & Co. IL bought a new stake in iShares MSCI Saudi Arabia ETF during the 2nd quarter valued at $37,000. Russell Investments Group Ltd. acquired a new position in iShares MSCI Saudi Arabia ETF during the 1st quarter worth $2,459,000. National Bank of Canada FI bought a new position in shares of iShares MSCI Saudi Arabia ETF in the first quarter worth $115,000. Finally, Checchi Capital Advisers LLC increased its holdings in shares of iShares MSCI Saudi Arabia ETF by 3.2% during the second quarter. Checchi Capital Advisers LLC now owns 133,387 shares of the company’s stock valued at $5,141,000 after purchasing an additional 4,146 shares during the period.

iShares MSCI Saudi Arabia ETF Company Profile

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.