iShares MSCI Hong Kong ETF (NYSEARCA:EWH) Sees Large Drop in Short Interest

iShares MSCI Hong Kong ETF (NYSEARCA:EWH) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 2,963,684 shares, a decline of 65.6% from the May 31st total of 8,612,256 shares. Approximately 7.5% of the shares of the company are short sold. Based on an average trading volume of 3,410,077 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of iShares MSCI Hong Kong ETF

A number of hedge funds have recently modified their holdings of the stock. Gould Asset Management LLC CA grew its stake in iShares MSCI Hong Kong ETF by 1.4% in the 4th quarter. Gould Asset Management LLC CA now owns 41,086 shares of the exchange traded fund’s stock valued at $873,000 after buying an additional 550 shares during the last quarter. Comerica Bank boosted its holdings in shares of iShares MSCI Hong Kong ETF by 59.2% during the third quarter. Comerica Bank now owns 1,770 shares of the exchange traded fund’s stock worth $38,000 after acquiring an additional 658 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of iShares MSCI Hong Kong ETF by 3.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,606 shares of the exchange traded fund’s stock worth $587,000 after acquiring an additional 831 shares during the period. Upper Left Wealth Management LLC grew its position in shares of iShares MSCI Hong Kong ETF by 6.3% in the first quarter. Upper Left Wealth Management LLC now owns 16,898 shares of the exchange traded fund’s stock valued at $390,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of iShares MSCI Hong Kong ETF during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 50.59% of the company’s stock.

iShares MSCI Hong Kong ETF Price Performance

iShares MSCI Hong Kong ETF stock traded down $0.03 during mid-day trading on Friday, hitting $21.09. 3,886,884 shares of the company’s stock traded hands, compared to its average volume of 4,550,635. The firm has a 50 day simple moving average of $22.92 and a two-hundred day simple moving average of $22.85. iShares MSCI Hong Kong ETF has a fifty-two week low of $19.77 and a fifty-two week high of $24.66. The stock has a market cap of $828.84 million, a price-to-earnings ratio of 14.69 and a beta of 0.38.

iShares MSCI Hong Kong ETF Company Profile

iShares MSCI Hong Kong Index Fund, formerly Shares MSCI Hong Kong ETF, (the Fund), is an exchange-traded fund. 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 Hong Kong market, as measured by the MSCI Hong Kong Index (the Index). The Index consists of stocks traded primarily on the Stock Exchange of Hong Kong Limited. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.