iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Stock Jumps 0.8% – Still a Buy?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) rose 0.8% during mid-day trading on Monday. The stock traded as high as $36.58 and last traded at $36.52. Approximately 597,206 shares traded hands during trading, a decline of 11% from the average daily volume of 667,864 shares. The stock had previously closed at $36.22.

iShares MSCI Saudi Arabia ETF Stock Performance

The company has a market capitalization of $591.66 million, a price-to-earnings ratio of 15.67 and a beta of 0.32. The business’s 50 day moving average is $37.76 and its 200 day moving average is $38.17.

Institutional Investors Weigh In On iShares MSCI Saudi Arabia ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in KSA. Bank of America Corp DE increased its stake in shares of iShares MSCI Saudi Arabia ETF by 36.6% during the first quarter. Bank of America Corp DE now owns 515,183 shares of the company’s stock worth $20,479,000 after purchasing an additional 138,006 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of iShares MSCI Saudi Arabia ETF during the 1st quarter valued at about $5,080,000. Hsbc Holdings PLC grew its stake in shares of iShares MSCI Saudi Arabia ETF by 6.2% in the 1st quarter. Hsbc Holdings PLC now owns 101,819 shares of the company’s stock valued at $4,048,000 after buying an additional 5,967 shares during the period. Renaissance Technologies LLC grew its position in iShares MSCI Saudi Arabia ETF by 646.4% in the first quarter. Renaissance Technologies LLC now owns 94,500 shares of the company’s stock worth $3,756,000 after acquiring an additional 81,840 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of iShares MSCI Saudi Arabia ETF by 10.8% during the 1st quarter. Bank of New York Mellon Corp now owns 66,032 shares of the company’s stock worth $2,625,000 after purchasing an additional 6,455 shares during the period.

iShares MSCI Saudi Arabia ETF Company Profile

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.