iShares MSCI South Korea ETF (NYSEARCA:EWY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of iShares MSCI South Korea ETF (NYSEARCA:EWY) saw unusually-strong trading volume on Tuesday . Approximately 31,353,648 shares were traded during mid-day trading, an increase of 851% from the previous session’s volume of 3,295,897 shares.The stock last traded at $54.89 and had previously closed at $56.71.

iShares MSCI South Korea ETF Trading Down 2.1 %

The firm has a 50-day moving average of $60.78 and a 200 day moving average of $63.31. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 9.60 and a beta of 1.25.

Institutional Investors Weigh In On iShares MSCI South Korea ETF

A number of hedge funds and other institutional investors have recently modified their holdings of EWY. Synovus Financial Corp lifted its holdings in shares of iShares MSCI South Korea ETF by 3.6% in the third quarter. Synovus Financial Corp now owns 53,623 shares of the exchange traded fund’s stock valued at $3,430,000 after buying an additional 1,879 shares during the period. Stifel Financial Corp lifted its holdings in iShares MSCI South Korea ETF by 230.8% in the 3rd quarter. Stifel Financial Corp now owns 105,558 shares of the exchange traded fund’s stock valued at $6,751,000 after acquiring an additional 73,644 shares during the last quarter. Centiva Capital LP acquired a new stake in iShares MSCI South Korea ETF in the 3rd quarter valued at about $1,644,000. Flow Traders U.S. LLC boosted its position in shares of iShares MSCI South Korea ETF by 34.3% during the 3rd quarter. Flow Traders U.S. LLC now owns 371,262 shares of the exchange traded fund’s stock valued at $23,746,000 after purchasing an additional 94,873 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in shares of iShares MSCI South Korea ETF by 12.9% in the 3rd quarter. Bridgewater Associates LP now owns 1,927,560 shares of the exchange traded fund’s stock worth $123,287,000 after purchasing an additional 220,129 shares during the last quarter.

About iShares MSCI South Korea ETF

iShares MSCI South Korea Capped ETF (the Fund) is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Korea 25/50 Index (the Index). The Index consists of stocks traded primarily on the Stock Market Division of the Korean Exchange.