iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Gap Down – Here’s What Happened

iShares MSCI South Korea ETF (NYSEARCA:EWY) shares gapped down prior to trading on Tuesday . The stock had previously closed at $133.81, but opened at $127.31. iShares MSCI South Korea ETF shares last traded at $128.77, with a volume of 5,367,835 shares trading hands.

iShares MSCI South Korea ETF Stock Down 3.4%

The company’s 50-day moving average is $127.93 and its 200 day moving average is $103.48. The company has a market cap of $12.72 billion, a price-to-earnings ratio of 10.35 and a beta of 1.22.

Hedge Funds Weigh In On iShares MSCI South Korea ETF

Institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new position in iShares MSCI South Korea ETF during the third quarter worth approximately $394,000. ABC Arbitrage SA purchased a new stake in shares of iShares MSCI South Korea ETF in the third quarter valued at approximately $512,000. Cullen Capital Management LLC increased its position in shares of iShares MSCI South Korea ETF by 94.0% in the second quarter. Cullen Capital Management LLC now owns 196,402 shares of the exchange traded fund’s stock valued at $14,098,000 after buying an additional 95,185 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of iShares MSCI South Korea ETF by 6.2% during the 3rd quarter. Cibc World Market Inc. now owns 81,215 shares of the exchange traded fund’s stock worth $6,505,000 after buying an additional 4,733 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in shares of iShares MSCI South Korea ETF during the 3rd quarter valued at approximately $689,000. Hedge funds and other institutional investors own 49.22% of the company’s stock.

iShares MSCI South Korea ETF Company Profile

iShares MSCI South Korea Capped ETF (the Fund) is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Korea 25/50 Index (the Index). The Index consists of stocks traded primarily on the Stock Market Division of the Korean Exchange. The Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no issuer of a component exceeds 25% of the Index weight and all issuers with weight above 5% do not exceed 50% of the Index weight.