Short Interest in iShares MSCI Brazil ETF (NYSEARCA:EWZ) Drops By 34.9%

iShares MSCI Brazil ETF (NYSEARCA:EWZ) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 35,510,000 shares, a decline of 34.9% from the September 30th total of 54,560,000 shares. Based on an average trading volume of 26,582,900 shares, the short-interest ratio is currently 1.3 days. Approximately 18.4% of the company’s stock are sold short. Approximately 18.4% of the company’s stock are sold short. Based on an average trading volume of 26,582,900 shares, the short-interest ratio is currently 1.3 days.

iShares MSCI Brazil ETF Trading Down 0.9%

Shares of EWZ traded down $0.29 during trading hours on Tuesday, reaching $31.23. The company had a trading volume of 11,739,248 shares, compared to its average volume of 24,818,152. The firm has a 50 day simple moving average of $30.12 and a 200-day simple moving average of $28.49. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 9.58 and a beta of 0.87. iShares MSCI Brazil ETF has a 12-month low of $22.26 and a 12-month high of $31.62.

Institutional Investors Weigh In On iShares MSCI Brazil ETF

Several hedge funds have recently modified their holdings of EWZ. Meridian Wealth Management LLC purchased a new position in iShares MSCI Brazil ETF in the third quarter valued at approximately $270,000. Thrivent Financial for Lutherans grew its position in shares of iShares MSCI Brazil ETF by 410.8% during the third quarter. Thrivent Financial for Lutherans now owns 47,819 shares of the exchange traded fund’s stock worth $1,482,000 after buying an additional 38,458 shares in the last quarter. Nan Fung Trinity HK Ltd. grew its position in shares of iShares MSCI Brazil ETF by 136.7% during the third quarter. Nan Fung Trinity HK Ltd. now owns 2,005,000 shares of the exchange traded fund’s stock worth $62,155,000 after buying an additional 1,157,900 shares in the last quarter. Cypress Capital Group grew its position in shares of iShares MSCI Brazil ETF by 13.7% during the third quarter. Cypress Capital Group now owns 115,512 shares of the exchange traded fund’s stock worth $3,581,000 after buying an additional 13,887 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of iShares MSCI Brazil ETF by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,800 shares of the exchange traded fund’s stock worth $1,296,000 after buying an additional 10,900 shares in the last quarter. 72.69% of the stock is owned by institutional investors and hedge funds.

About iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index).