iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Gap Up – Here’s Why

iShares MSCI South Korea ETF (NYSEARCA:EWY)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $150.44, but opened at $159.19. iShares MSCI South Korea ETF shares last traded at $157.6210, with a volume of 3,893,132 shares changing hands.

iShares MSCI South Korea ETF Stock Performance

The firm’s 50 day moving average price is $179.42 and its 200-day moving average price is $176.02. The firm has a market capitalization of $22.68 billion, a PE ratio of 10.35 and a beta of 1.51.

Institutional Trading of iShares MSCI South Korea ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc raised its stake in iShares MSCI South Korea ETF by 185.0% during the third quarter. IFP Advisors Inc now owns 5,848 shares of the exchange traded fund’s stock worth $1,069,000 after purchasing an additional 3,796 shares during the period. Gemmer Asset Management LLC acquired a new position in iShares MSCI South Korea ETF during the third quarter worth $2,143,000. USA Financial Formulas acquired a new position in iShares MSCI South Korea ETF during the 3rd quarter worth about $317,000. Banque Pictet & Cie SA purchased a new position in shares of iShares MSCI South Korea ETF in the third quarter valued at approximately $10,102,000. Finally, Daytona Street Capital LLC purchased a new position in iShares MSCI South Korea ETF in the 3rd quarter valued at approximately $103,000. 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.