iShares MSCI UAE ETF (NASDAQ:UAE) Sees Large Decline in Short Interest

iShares MSCI UAE ETF (NASDAQ:UAE) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 173,500 shares, a drop of 51.6% from the August 15th total of 358,600 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily volume of 213,900 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily volume of 213,900 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC acquired a new position in shares of iShares MSCI UAE ETF during the second quarter valued at about $66,000. Raymond James Financial Inc. acquired a new position in shares of iShares MSCI UAE ETF during the second quarter valued at about $205,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of iShares MSCI UAE ETF during the second quarter valued at about $216,000. OLD Mission Capital LLC acquired a new position in shares of iShares MSCI UAE ETF during the first quarter valued at about $236,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of iShares MSCI UAE ETF during the second quarter valued at about $269,000.

iShares MSCI UAE ETF Price Performance

Shares of NASDAQ UAE opened at $19.17 on Monday. The stock has a market capitalization of $160.07 million, a P/E ratio of 10.93 and a beta of 0.64. The company has a 50-day moving average price of $19.68 and a 200-day moving average price of $18.32. iShares MSCI UAE ETF has a 1 year low of $14.56 and a 1 year high of $20.42.

About iShares MSCI UAE ETF

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.