iShares Europe ETF (NYSEARCA:IEV) Sets New 12-Month High – Still a Buy?

Shares of iShares Europe ETF (NYSEARCA:IEV) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $75.39 and last traded at $75.34, with a volume of 212588 shares trading hands. The stock had previously closed at $74.61.

iShares Europe ETF Price Performance

The firm has a 50-day moving average of $72.81 and a 200 day moving average of $71.64. The company has a market capitalization of $1.69 billion, a PE ratio of 16.48 and a beta of 0.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Galvin Gaustad & Stein LLC purchased a new stake in iShares Europe ETF during the 4th quarter valued at $3,244,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of iShares Europe ETF by 3,397.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 789,809 shares of the company’s stock worth $54,181,000 after buying an additional 767,229 shares during the last quarter. swisspartners Advisors Ltd boosted its stake in shares of iShares Europe ETF by 129.4% in the 4th quarter. swisspartners Advisors Ltd now owns 25,580 shares of the company’s stock worth $1,753,000 after buying an additional 14,430 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of iShares Europe ETF in the 4th quarter worth $682,000. Finally, Nvest Financial LLC grew its holdings in shares of iShares Europe ETF by 55.2% in the fourth quarter. Nvest Financial LLC now owns 67,061 shares of the company’s stock worth $4,600,000 after acquiring an additional 23,841 shares during the period.

About iShares Europe ETF

iShares Europe ETF (the Fund), formerly iShares S&P Europe 350 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Europe 350 (the Index). The Index measures the performance of the stocks of companies in the countries, which includes Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.