iShares MSCI UAE ETF (NASDAQ:UAE) Shares Down 1.3% – Should You Sell?

Shares of iShares MSCI UAE ETF (NASDAQ:UAE) fell 1.3% on Thursday. The stock traded as low as $19.66 and last traded at $19.81. 478,236 shares changed hands during trading, an increase of 4% from the average session volume of 457,834 shares. The stock had previously closed at $20.07.

iShares MSCI UAE ETF Stock Down 1.3%

The business’s 50-day simple moving average is $19.65 and its two-hundred day simple moving average is $19.27. The firm has a market capitalization of $317.69 million, a price-to-earnings ratio of 10.93 and a beta of 0.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of UAE. Rothschild Capital Partners LLC purchased a new stake in shares of iShares MSCI UAE ETF in the 2nd quarter valued at $67,000. J. Safra Sarasin Holding AG acquired a new stake in shares of iShares MSCI UAE ETF during the first quarter worth about $255,000. Corient Private Wealth LP purchased a new position in shares of iShares MSCI UAE ETF in the second quarter valued at approximately $257,000. Financial & Tax Architects LLC acquired a new position in shares of iShares MSCI UAE ETF in the first quarter valued at approximately $391,000. Finally, Gallacher Capital Management LLC increased its stake in iShares MSCI UAE ETF by 3.9% during the 1st quarter. Gallacher Capital Management LLC now owns 32,258 shares of the company’s stock worth $602,000 after buying an additional 1,224 shares during the period.

About iShares MSCI UAE ETF

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.