iShares MSCI China ETF (NASDAQ:MCHI) Sets New 12-Month Low – Here’s Why

iShares MSCI China ETF (NASDAQ:MCHI)’s share price reached a new 52-week low on Thursday . The stock traded as low as $53.40 and last traded at $53.62, with a volume of 535767 shares. The stock had previously closed at $54.11.

iShares MSCI China ETF Trading Up 0.9%

The firm’s 50 day moving average is $56.72 and its two-hundred day moving average is $59.12. The firm has a market cap of $6.43 billion, a P/E ratio of 13.11 and a beta of 0.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MCHI. Millennium Management LLC boosted its stake in iShares MSCI China ETF by 49.6% during the 1st quarter. Millennium Management LLC now owns 70,891 shares of the company’s stock worth $3,856,000 after acquiring an additional 23,513 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in iShares MSCI China ETF by 1,740.0% during the 1st quarter. Jones Financial Companies Lllp now owns 18,050 shares of the company’s stock worth $906,000 after acquiring an additional 17,069 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in iShares MSCI China ETF by 52.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 561,233 shares of the company’s stock worth $30,531,000 after acquiring an additional 192,712 shares during the last quarter. Empowered Funds LLC bought a new position in iShares MSCI China ETF during the 1st quarter worth approximately $2,947,000. Finally, Woodline Partners LP bought a new position in iShares MSCI China ETF during the 1st quarter worth approximately $2,026,000.

About iShares MSCI China ETF

iShares MSCI China ETF, formerly iShares MSCI China Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond to the price and yield performance, of the MSCI China Index (the Underlying Index). The Fund is designed to measure the performance of the top 85% of equity securities by market capitalization in the Chinese equity markets. Securities are weighted based on the total market value of their shares so that securities with higher total market values generally have a higher representation in the index.