iShares MSCI Brazil ETF (NYSEARCA:EWZ) Sees Large Growth in Short Interest

iShares MSCI Brazil ETF (NYSEARCA:EWZ) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 56,434,805 shares, a growth of 61.1% from the August 31st total of 35,037,153 shares. Approximately 24.6% of the company’s stock are short sold. Based on an average daily volume of 27,219,618 shares, the short-interest ratio is currently 2.1 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of Nova Scotia grew its holdings in iShares MSCI Brazil ETF by 10,490.4% during the first quarter. Bank of Nova Scotia now owns 5,507,028 shares of the exchange traded fund’s stock worth $211,416,000 after acquiring an additional 5,455,028 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. increased its stake in iShares MSCI Brazil ETF by 1.5% during the 1st quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 3,951,900 shares of the exchange traded fund’s stock worth $25,220,000 after buying an additional 57,100 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of iShares MSCI Brazil ETF by 12,304.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,119,561 shares of the exchange traded fund’s stock valued at $119,760,000 after acquiring an additional 3,094,413 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of iShares MSCI Brazil ETF in the first quarter valued at approximately $108,733,000. Finally, SG Americas Securities LLC boosted its stake in iShares MSCI Brazil ETF by 645.6% during the 1st quarter. SG Americas Securities LLC now owns 2,344,250 shares of the exchange traded fund’s stock worth $89,996,000 after purchasing an additional 2,029,838 shares during the last quarter. 72.69% of the stock is currently owned by hedge funds and other institutional investors.

iShares MSCI Brazil ETF Stock Performance

NYSEARCA:EWZ traded up $0.78 during midday trading on Wednesday, reaching $37.25. 31,085,179 shares of the stock traded hands, compared to its average volume of 29,068,947. iShares MSCI Brazil ETF has a 12-month low of $28.66 and a 12-month high of $42.02. The business has a 50-day moving average of $36.30 and a two-hundred day moving average of $36.63. The stock has a market capitalization of $8.60 billion, a PE ratio of 9.58 and a beta of 0.62.

iShares MSCI Brazil ETF Company Profile

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.