iShares Europe ETF (NYSEARCA:IEV) Hits New 12-Month High – Should You Buy?

iShares Europe ETF (NYSEARCA:IEV)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $73.00 and last traded at $72.84, with a volume of 319910 shares traded. The stock had previously closed at $71.69.

iShares Europe ETF Price Performance

The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.48 and a beta of 0.91. The stock’s 50 day simple moving average is $68.55 and its 200-day simple moving average is $66.15.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barings LLC boosted its holdings in shares of iShares Europe ETF by 6.0% in the 2nd quarter. Barings LLC now owns 723,437 shares of the company’s stock valued at $45,757,000 after buying an additional 41,244 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of iShares Europe ETF in the 2nd quarter valued at about $426,000. KM Capital Management Ltd. lifted its stake in iShares Europe ETF by 2.5% in the 2nd quarter. KM Capital Management Ltd. now owns 91,309 shares of the company’s stock valued at $5,775,000 after purchasing an additional 2,244 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in iShares Europe ETF by 63.6% during the second quarter. Envestnet Asset Management Inc. now owns 283,126 shares of the company’s stock worth $17,908,000 after purchasing an additional 110,024 shares during the period. Finally, BLKBRD Asset Management LP acquired a new position in iShares Europe ETF during the second quarter worth approximately $531,000.

iShares Europe ETF Company Profile

iShares Europe ETF (the Fund), formerly iShares S&P Europe 350 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Europe 350 (the Index). The Index measures the performance of the stocks of companies in the countries, which includes Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.