iShares MSCI Brazil ETF (NYSEARCA:EWZ) Shares Gap Down – Here’s What Happened

iShares MSCI Brazil ETF (NYSEARCA:EWZ) shares gapped down prior to trading on Monday. The stock had previously closed at $42.59, but opened at $31.71. iShares MSCI Brazil ETF shares last traded at $32.5620, with a volume of 77,526,412 shares traded.

iShares MSCI Brazil ETF Price Performance

The company has a market capitalization of $11.01 billion, a P/E ratio of 9.58 and a beta of 0.57. The business has a 50-day moving average of $38.54 and a 200-day moving average of $37.23.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. boosted its position in iShares MSCI Brazil ETF by 2.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 17,487 shares of the exchange traded fund’s stock worth $603,000 after purchasing an additional 383 shares during the period. Parallel Advisors LLC raised its position in iShares MSCI Brazil ETF by 22.4% in the first quarter. Parallel Advisors LLC now owns 2,511 shares of the exchange traded fund’s stock valued at $96,000 after purchasing an additional 459 shares during the period. First Growth Capital LLC raised its position in iShares MSCI Brazil ETF by 4.9% in the first quarter. First Growth Capital LLC now owns 14,683 shares of the exchange traded fund’s stock valued at $563,000 after purchasing an additional 680 shares during the period. Continuum Advisory LLC acquired a new position in shares of iShares MSCI Brazil ETF during the second quarter worth about $25,000. Finally, Hudson Value Partners LLC lifted its stake in shares of iShares MSCI Brazil ETF by 2.8% during the second quarter. Hudson Value Partners LLC now owns 32,903 shares of the exchange traded fund’s stock worth $1,135,000 after purchasing an additional 902 shares in the last quarter. Institutional investors 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.