iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Gap Down – Here’s Why

iShares MSCI South Korea ETF (NYSEARCA:EWY)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $126.22, but opened at $117.52. iShares MSCI South Korea ETF shares last traded at $118.24, with a volume of 2,779,189 shares traded.

iShares MSCI South Korea ETF Trading Down 2.5%

The company has a market cap of $12.10 billion, a price-to-earnings ratio of 10.35 and a beta of 1.22. The company’s 50 day moving average price is $129.61 and its 200 day moving average price is $105.60.

Institutional Investors Weigh In On iShares MSCI South Korea ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in shares of iShares MSCI South Korea ETF by 1,764.2% during the 4th quarter. Hsbc Holdings PLC now owns 1,897,337 shares of the exchange traded fund’s stock worth $184,457,000 after buying an additional 1,795,557 shares in the last quarter. Yacktman Asset Management LP acquired a new position in iShares MSCI South Korea ETF during the fourth quarter worth $111,279,000. Temasek Holdings Private Ltd grew its holdings in iShares MSCI South Korea ETF by 116.6% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,594,998 shares of the exchange traded fund’s stock worth $155,066,000 after acquiring an additional 858,598 shares during the period. Morgan Stanley raised its position in iShares MSCI South Korea ETF by 31.5% in the fourth quarter. Morgan Stanley now owns 3,405,205 shares of the exchange traded fund’s stock worth $331,054,000 after acquiring an additional 814,877 shares in the last quarter. Finally, TD Asset Management Inc raised its position in iShares MSCI South Korea ETF by 85.5% in the third quarter. TD Asset Management Inc now owns 1,536,532 shares of the exchange traded fund’s stock worth $123,076,000 after acquiring an additional 708,000 shares in the last quarter. Institutional investors and hedge funds own 49.22% of the company’s stock.

iShares MSCI South Korea ETF Company Profile

iShares MSCI South Korea Capped ETF (the Fund) is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Korea 25/50 Index (the Index). The Index consists of stocks traded primarily on the Stock Market Division of the Korean Exchange. The Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no issuer of a component exceeds 25% of the Index weight and all issuers with weight above 5% do not exceed 50% of the Index weight.