iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Sets New 1-Year Low – Time to Sell?

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA)’s stock price reached a new 52-week low during trading on Tuesday. The stock traded as low as $34.60 and last traded at $34.6950, with a volume of 53,663 shares traded. The stock had previously closed at $35.14.

iShares MSCI Saudi Arabia ETF Stock Performance

The firm has a market capitalization of $561.62 million, a P/E ratio of 15.67 and a beta of 0.32. The company has a 50-day simple moving average of $37.45 and a two-hundred day simple moving average of $38.02.

Institutional Investors Weigh In On iShares MSCI Saudi Arabia ETF

Several hedge funds have recently bought and sold shares of KSA. Y Intercept Hong Kong Ltd bought a new position in iShares MSCI Saudi Arabia ETF during the 1st quarter valued at approximately $255,000. Banque Cantonale Vaudoise boosted its stake in iShares MSCI Saudi Arabia ETF by 6.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 7,667 shares of the company’s stock valued at $305,000 after purchasing an additional 485 shares during the last quarter. Empowered Funds LLC purchased a new stake in iShares MSCI Saudi Arabia ETF during the 1st quarter valued at $573,000. Blue Trust Inc. increased its holdings in shares of iShares MSCI Saudi Arabia ETF by 65.8% in the 1st quarter. Blue Trust Inc. now owns 15,315 shares of the company’s stock worth $609,000 after purchasing an additional 6,080 shares in the last quarter. Finally, SummitTX Capital L.P. increased its holdings in shares of iShares MSCI Saudi Arabia ETF by 97.7% in the 1st quarter. SummitTX Capital L.P. now owns 25,700 shares of the company’s stock worth $1,022,000 after purchasing an additional 12,700 shares in the last quarter.

About iShares MSCI Saudi Arabia ETF

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.