iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) Hits New 52-Week High – Here’s Why

Shares of iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) hit a new 52-week high on Thursday . The company traded as high as $70.87 and last traded at $70.81, with a volume of 26231961 shares. The stock had previously closed at $68.56.

iShares MSCI Emerging Markets ETF Stock Up 3.2%

The stock has a market capitalization of $31.34 billion, a price-to-earnings ratio of 14.46 and a beta of 0.73. The company has a 50 day simple moving average of $65.37 and a 200-day simple moving average of $60.28.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EEM. Rathbones Group PLC grew its holdings in iShares MSCI Emerging Markets ETF by 16.8% in the first quarter. Rathbones Group PLC now owns 153,122 shares of the exchange traded fund’s stock worth $8,696,000 after purchasing an additional 22,021 shares during the period. DV Trading LLC raised its holdings in shares of iShares MSCI Emerging Markets ETF by 79.8% during the first quarter. DV Trading LLC now owns 71,389 shares of the exchange traded fund’s stock valued at $4,054,000 after purchasing an additional 31,689 shares during the period. Parallel Advisors LLC boosted its position in shares of iShares MSCI Emerging Markets ETF by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 129,514 shares of the exchange traded fund’s stock worth $7,355,000 after purchasing an additional 744 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of iShares MSCI Emerging Markets ETF by 19.6% in the 1st quarter. NewEdge Advisors LLC now owns 133,071 shares of the exchange traded fund’s stock valued at $7,557,000 after buying an additional 21,776 shares during the period. Finally, First Nebraska Trust Co bought a new stake in iShares MSCI Emerging Markets ETF in the 1st quarter valued at about $483,000. Institutional investors and hedge funds own 81.39% of the company’s stock.

About iShares MSCI Emerging Markets ETF

iShares MSCI Emerging Markets ETF, formerly iShares MSCI Emerging Markets Index Fund (the Fund), seeks investment results that correspond generally to the price and yield performance of publicly traded equity securities in global emerging markets, as measured by the MSCI Emerging Markets Index (the Index). The Index is designed to measure equity market performance in the global emerging markets. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.