Short Interest in iShares MSCI UAE ETF (NASDAQ:UAE) Expands By 145.1%

iShares MSCI UAE ETF (NASDAQ:UAE) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 2,843,302 shares, a growth of 145.1% from the May 14th total of 1,159,935 shares. Currently, 19.3% of the shares of the company are short sold. Based on an average daily trading volume, of 584,269 shares, the short-interest ratio is presently 4.9 days.

Hedge Funds Weigh In On iShares MSCI UAE ETF

A number of large investors have recently made changes to their positions in UAE. Sparta 24 Ltd. bought a new position in shares of iShares MSCI UAE ETF during the first quarter worth approximately $22,211,000. Mondrian Investment Partners LTD bought a new position in shares of iShares MSCI UAE ETF during the third quarter worth approximately $12,735,000. HighTower Advisors LLC bought a new position in shares of iShares MSCI UAE ETF during the fourth quarter worth approximately $8,870,000. Jane Street Group LLC increased its stake in shares of iShares MSCI UAE ETF by 682.5% during the first quarter. Jane Street Group LLC now owns 399,295 shares of the company’s stock worth $6,776,000 after purchasing an additional 348,264 shares during the period. Finally, Sei Investments Co. bought a new position in shares of iShares MSCI UAE ETF during the third quarter worth approximately $5,093,000.

iShares MSCI UAE ETF Stock Performance

Shares of NASDAQ UAE traded up $0.72 during trading hours on Friday, reaching $19.62. 877,157 shares of the stock were exchanged, compared to its average volume of 601,738. The firm has a market capitalization of $288.41 million, a price-to-earnings ratio of 10.93 and a beta of 0.42. iShares MSCI UAE ETF has a 52 week low of $16.99 and a 52 week high of $22.29. The stock’s fifty day simple moving average is $19.14 and its 200 day simple moving average is $19.53.

About iShares MSCI UAE ETF

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.