iShares MSCI Canada ETF (NYSEARCA:EWC) Reaches New 1-Year High – Time to Buy?

Shares of iShares MSCI Canada ETF (NYSEARCA:EWC) hit a new 52-week high during trading on Monday . The company traded as high as $62.55 and last traded at $62.42, with a volume of 3741550 shares traded. The stock had previously closed at $62.23.

iShares MSCI Canada ETF Stock Up 0.3%

The firm has a market capitalization of $6.44 billion, a P/E ratio of 19.77 and a beta of 0.86. The business has a 50-day moving average price of $59.03 and a 200-day moving average price of $57.57.

Hedge Funds Weigh In On iShares MSCI Canada ETF

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in shares of iShares MSCI Canada ETF by 1,675.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,178,045 shares of the exchange traded fund’s stock worth $171,392,000 after buying an additional 2,999,053 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in iShares MSCI Canada ETF by 52.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,841,833 shares of the exchange traded fund’s stock valued at $265,284,000 after purchasing an additional 1,663,788 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in iShares MSCI Canada ETF in the second quarter worth $51,589,000. Graham Capital Management L.P. boosted its stake in iShares MSCI Canada ETF by 525.5% in the fourth quarter. Graham Capital Management L.P. now owns 806,849 shares of the exchange traded fund’s stock worth $43,513,000 after purchasing an additional 677,849 shares in the last quarter. Finally, Absolute Gestao de Investimentos Ltda. bought a new stake in shares of iShares MSCI Canada ETF during the first quarter worth $30,134,000.

iShares MSCI Canada ETF Company Profile

iShares MSCI Canada ETF (the Fund), formerly iShares MSCI Canada Index Fund, is an exchange-traded fund (ETF). The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Canadian market, as measured by the MSCI Canada Index (the Index). The Index seeks to measure the performance of the Canadian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.