iShares MSCI Brazil ETF (NYSEARCA:EWZ) Reaches New 12-Month High – Still a Buy?

iShares MSCI Brazil ETF (NYSEARCA:EWZ) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $39.21 and last traded at $39.0880, with a volume of 390244 shares traded. The stock had previously closed at $38.32.

iShares MSCI Brazil ETF Stock Up 1.4%

The stock has a market cap of $9.18 billion, a P/E ratio of 9.58 and a beta of 0.87. The firm’s 50 day simple moving average is $33.94 and its two-hundred day simple moving average is $31.48.

Institutional Investors Weigh In On iShares MSCI Brazil ETF

Several institutional investors and hedge funds have recently bought and sold shares of the business. Truxt Investmentos Ltda. bought a new position in iShares MSCI Brazil ETF in the third quarter worth about $25,000. Ameriflex Group Inc. boosted its position in iShares MSCI Brazil ETF by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 880 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 440 shares during the period. Aberdeen Wealth Management LLC acquired a new stake in iShares MSCI Brazil ETF in the second quarter worth $29,000. Private Trust Co. NA lifted its stake in iShares MSCI Brazil ETF by 114.4% in the third quarter. Private Trust Co. NA now owns 1,072 shares of the exchange traded fund’s stock valued at $33,000 after buying an additional 572 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of iShares MSCI Brazil ETF by 143.5% during the second quarter. First Horizon Advisors Inc. now owns 1,315 shares of the exchange traded fund’s stock valued at $38,000 after acquiring an additional 775 shares during the period. Institutional investors and hedge funds own 72.69% of the company’s stock.

About iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index 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 Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.