iShares MSCI Australia ETF (NYSEARCA:EWA) Hits New 1-Year High – Time to Buy?

iShares MSCI Australia ETF (NYSEARCA:EWA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.88 and last traded at $28.83, with a volume of 4265629 shares. The stock had previously closed at $28.23.

iShares MSCI Australia ETF Stock Down 0.7%

The stock’s 50-day moving average price is $26.91 and its 200 day moving average price is $26.75. The company has a market cap of $1.34 billion, a P/E ratio of 19.89 and a beta of 1.04.

Institutional Investors Weigh In On iShares MSCI Australia ETF

A number of institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its position in iShares MSCI Australia ETF by 21.7% in the first quarter. Comerica Bank now owns 3,627 shares of the exchange traded fund’s stock worth $85,000 after purchasing an additional 646 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in iShares MSCI Australia ETF during the first quarter valued at approximately $42,000. TD Asset Management Inc grew its stake in shares of iShares MSCI Australia ETF by 6.4% in the 2nd quarter. TD Asset Management Inc now owns 109,113 shares of the exchange traded fund’s stock valued at $2,872,000 after purchasing an additional 6,559 shares during the period. Lunt Capital Management Inc. acquired a new position in shares of iShares MSCI Australia ETF in the 2nd quarter worth approximately $201,000. Finally, Mutual Advisors LLC bought a new position in shares of iShares MSCI Australia ETF during the 2nd quarter worth approximately $1,169,000. 59.69% of the stock is owned by institutional investors and hedge funds.

iShares MSCI Australia ETF Company Profile

iShares MSCI Australia ETF (the Fund), formerly iShares MSCI Australia Index Fund, is an exchange-traded fund (ETF). The Fund seeks to provide investment results that correspond generally to the price and yield performance, of publicly traded securities in the Australian market, as represented by the MSCI Australia Index (the Index). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Index seeks to measure the performance of the Australian equity market.