iShares MSCI China ETF (NASDAQ:MCHI) Sets New 12-Month Low – What’s Next?

iShares MSCI China ETF (NASDAQ:MCHI) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $53.40 and last traded at $53.62, with a volume of 535767 shares trading hands. The stock had previously closed at $54.11.

iShares MSCI China ETF Stock Performance

The company has a 50-day moving average of $56.78 and a 200-day moving average of $59.20. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 13.11 and a beta of 0.32.

Hedge Funds Weigh In On iShares MSCI China ETF

Several institutional investors and hedge funds have recently modified their holdings of MCHI. JPMorgan Chase & Co. grew its position in shares of iShares MSCI China ETF by 522.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,717 shares of the company’s stock valued at $204,314,000 after purchasing an additional 2,604,585 shares during the period. Bank of America Corp DE boosted its position in iShares MSCI China ETF by 855.9% during the 3rd quarter. Bank of America Corp DE now owns 1,479,714 shares of the company’s stock worth $97,439,000 after acquiring an additional 1,324,910 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new position in iShares MSCI China ETF during the 1st quarter worth approximately $54,607,000. Northwestern Mutual Wealth Management Co. boosted its position in iShares MSCI China ETF by 19,983.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 916,424 shares of the company’s stock worth $55,050,000 after acquiring an additional 911,861 shares during the last quarter. Finally, Phoenix Financial Ltd. boosted its position in iShares MSCI China ETF by 164.6% during the 4th quarter. Phoenix Financial Ltd. now owns 1,322,800 shares of the company’s stock worth $79,461,000 after acquiring an additional 822,800 shares during the last quarter.

About iShares MSCI China ETF

iShares MSCI China ETF, formerly iShares MSCI China Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond to the price and yield performance, of the MSCI China Index (the Underlying Index). The Fund is designed to measure the performance of the top 85% of equity securities by market capitalization in the Chinese equity markets. Securities are weighted based on the total market value of their shares so that securities with higher total market values generally have a higher representation in the index.