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

iShares MSCI UAE ETF (NASDAQ:UAE) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 2,843,302 shares, an increase 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 volume of 584,269 shares, the short-interest ratio is presently 4.9 days.

Institutional Investors Weigh In On iShares MSCI UAE ETF

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in iShares MSCI UAE ETF by 43.5% during the third quarter. Rhumbline Advisers now owns 264,364 shares of the company’s stock worth $4,994,000 after buying an additional 80,160 shares in the last quarter. Mondrian Investment Partners LTD acquired a new stake in iShares MSCI UAE ETF during the third quarter worth approximately $12,735,000. HighTower Advisors LLC acquired a new stake in iShares MSCI UAE ETF during the fourth quarter worth approximately $8,870,000. UBS Group AG grew its position in iShares MSCI UAE ETF by 457.7% during the fourth quarter. UBS Group AG now owns 152,647 shares of the company’s stock worth $2,919,000 after buying an additional 125,275 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in iShares MSCI UAE ETF during the third quarter worth approximately $4,539,000.

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.