iShares MSCI Brazil ETF (NYSEARCA:EWZ) Sees Large Volume Increase – Still a Buy?

iShares MSCI Brazil ETF (NYSEARCA:EWZ) saw strong trading volume on Tuesday. 34,793,731 shares changed hands during trading, an increase of 6% from the average daily volume of 32,875,781 shares. The stock last traded at $34.3710 and had previously closed at $34.15.

Trending Headlines about iShares MSCI Brazil ETF

Here are the key news stories impacting iShares MSCI Brazil ETF this week:

• Neutral Sentiment: EWZ’s move below its 200-day moving average signals deteriorating technical momentum and could encourage additional selling, although the indicator does not by itself determine the ETF’s long-term direction. iShares MSCI Brazil ETF Stock Cross Below 200 Day Moving Average
• Negative Sentiment: The election result sparked a broad selloff in Brazilian stocks and the currency because markets had anticipated a shift toward fiscal austerity, deregulation and more orthodox economic policies under Bolsonaro. Investors are now concerned about greater government intervention, weaker fiscal discipline and renewed political uncertainty during Lula’s fourth term. Brazilian Stocks Sink After Surprising Presidential Election Result
• Negative Sentiment: Reports described an unusually severe decline across Brazil-focused ETFs, with EWZ among the largest decliners in premarket trading. The shock reflects the sharp reversal in positioning after prediction markets had favored Bolsonaro and investors were caught off guard by Lula’s victory. Brazil ETFs Crash More Than 20% After Lula Win
• Negative Sentiment: Petrobras and other major Brazilian holdings led the retreat, increasing pressure on EWZ because the ETF is concentrated in large Brazilian companies and is exposed to the country’s currency and political risk. Brazil’s Stock Market Crashes After Lula’s Upset Victory

iShares MSCI Brazil ETF Trading Up 1.1%

The company has a market cap of $11.34 billion, a price-to-earnings ratio of 9.58 and a beta of 0.57. The company’s 50 day moving average price is $38.46 and its 200 day moving average price is $37.13.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EWZ. Contravisory Investment Management Inc. boosted its stake in iShares MSCI Brazil ETF by 2.2% during the second quarter. Contravisory Investment Management Inc. now owns 17,487 shares of the exchange traded fund’s stock worth $603,000 after acquiring an additional 383 shares in the last quarter. Parallel Advisors LLC increased its stake in iShares MSCI Brazil ETF by 22.4% in the first quarter. Parallel Advisors LLC now owns 2,511 shares of the exchange traded fund’s stock valued at $96,000 after purchasing an additional 459 shares in the last quarter. First Growth Capital LLC increased its stake in iShares MSCI Brazil ETF by 4.9% in the first quarter. First Growth Capital LLC now owns 14,683 shares of the exchange traded fund’s stock valued at $563,000 after purchasing an additional 680 shares in the last quarter. Continuum Advisory LLC bought a new stake in iShares MSCI Brazil ETF in the second quarter valued at $25,000. Finally, Hudson Value Partners LLC raised its holdings in shares of iShares MSCI Brazil ETF by 2.8% during the second quarter. Hudson Value Partners LLC now owns 32,903 shares of the exchange traded fund’s stock valued at $1,135,000 after purchasing an additional 902 shares during the period. 72.69% of the stock is owned by hedge funds and other institutional investors.

iShares MSCI Brazil ETF Company Profile

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.