iShares MSCI UAE ETF (NASDAQ:UAE) Shares Up 2% – Here’s Why

iShares MSCI UAE ETF (NASDAQ:UAE) shot up 2% on Friday . The company traded as high as $19.50 and last traded at $19.46. 63,795 shares were traded during mid-day trading, a decline of 91% from the average session volume of 688,724 shares. The stock had previously closed at $19.07.

iShares MSCI UAE ETF Trading Up 2.0%

The company has a market cap of $292.87 million, a price-to-earnings ratio of 10.93 and a beta of 0.43. The business has a fifty day moving average of $19.46 and a two-hundred day moving average of $19.61.

Hedge Funds Weigh In On iShares MSCI UAE ETF

A number of large investors have recently bought and sold shares of UAE. Royal Bank of Canada raised its holdings in iShares MSCI UAE ETF by 60.6% in the 1st quarter. Royal Bank of Canada now owns 22,774 shares of the company’s stock worth $386,000 after purchasing an additional 8,594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in iShares MSCI UAE ETF in the 1st quarter worth about $491,000. Jane Street Group LLC raised its holdings in iShares MSCI UAE ETF by 682.5% in the 1st quarter. Jane Street Group LLC now owns 399,295 shares of the company’s stock worth $6,776,000 after purchasing an additional 348,264 shares during the period. Marshall Wace LLP raised its holdings in iShares MSCI UAE ETF by 15.7% in the 2nd quarter. Marshall Wace LLP now owns 49,237 shares of the company’s stock worth $922,000 after purchasing an additional 6,683 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in iShares MSCI UAE ETF in the 2nd quarter worth about $205,000.

iShares MSCI UAE ETF Company Profile

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.