iShares MSCI Turkey ETF (NASDAQ:TUR) Sees Large Drop in Short Interest

iShares MSCI Turkey ETF (NASDAQ:TUR) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 393,035 shares, a decrease of 37.8% from the July 15th total of 632,086 shares. Currently, 7.1% of the shares of the stock are sold short. Based on an average trading volume of 88,929 shares, the days-to-cover ratio is currently 4.4 days.

iShares MSCI Turkey ETF Stock Down 0.1%

Shares of NASDAQ TUR traded down $0.02 during trading hours on Tuesday, reaching $39.41. 8,214 shares of the stock traded hands, compared to its average volume of 300,785. The company has a market capitalization of $216.75 million, a P/E ratio of 10.68 and a beta of 0.33. iShares MSCI Turkey ETF has a 52-week low of $31.72 and a 52-week high of $43.98. The company’s 50-day simple moving average is $39.15 and its two-hundred day simple moving average is $40.02.

iShares MSCI Turkey ETF Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were paid a $0.4792 dividend. The ex-dividend date of this dividend was Monday, June 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TUR. Mutual Advisors LLC bought a new stake in shares of iShares MSCI Turkey ETF in the 4th quarter valued at about $678,000. Hilltop Holdings Inc. bought a new position in iShares MSCI Turkey ETF during the 1st quarter worth approximately $1,086,000. SG Americas Securities LLC purchased a new position in shares of iShares MSCI Turkey ETF in the first quarter worth $1,546,000. J. Safra Sarasin Holding AG bought a new position in shares of iShares MSCI Turkey ETF during the first quarter valued at about $281,000. Finally, AlphaCentric Advisors LLC bought a new position in iShares MSCI Turkey ETF during the 4th quarter valued at approximately $137,000. 44.58% of the stock is owned by institutional investors.

iShares MSCI Turkey ETF Company Profile

iShares MSCI Turkey ETF (the Fund), formerly The iShares MSCI Turkey Investable Market Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the MSCI Turkey Investable Market Index (the Underlying Index). The Underlying Index is a free float-adjusted market capitalization index designed to measure equity market performance in Turkey. As of September 7, 2012, the Fund invests in sectors, such as financials, consumer staples, industrials, telecommunication services, materials, consumer discretionary, energy, healthcare, utilities and information technology.