iShares MSCI Japan ETF (NYSEARCA:EWJ) Reaches New 1-Year High – Here’s Why

iShares MSCI Japan ETF (NYSEARCA:EWJ) hit a new 52-week high during trading on Wednesday . The stock traded as high as $86.74 and last traded at $86.68, with a volume of 12772416 shares. The stock had previously closed at $85.89.

iShares MSCI Japan ETF Stock Up 3.8%

The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 14.63 and a beta of 0.68. The company’s fifty day simple moving average is $83.43 and its 200 day simple moving average is $81.28.

Institutional Trading of iShares MSCI Japan ETF

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in iShares MSCI Japan ETF by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 26,102,320 shares of the exchange traded fund’s stock valued at $2,093,667,000 after buying an additional 662,373 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of iShares MSCI Japan ETF by 60.6% during the second quarter. Fisher Asset Management LLC now owns 2,677,275 shares of the exchange traded fund’s stock worth $200,715,000 after purchasing an additional 1,010,345 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of iShares MSCI Japan ETF by 44.9% in the second quarter. Ameriprise Financial Inc. now owns 1,261,058 shares of the exchange traded fund’s stock valued at $94,540,000 after buying an additional 390,526 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in iShares MSCI Japan ETF by 14.0% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,181,886 shares of the exchange traded fund’s stock worth $94,799,000 after acquiring an additional 144,700 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its position in shares of iShares MSCI Japan ETF by 0.5% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 787,562 shares of the exchange traded fund’s stock valued at $59,044,000 after acquiring an additional 4,252 shares during the period. 64.60% of the stock is owned by institutional investors and hedge funds.

About iShares MSCI Japan ETF

iShares MSCI Japan ETF (the fund), formerly Ishares Msci Japan Index Fund, is an exchange-traded fund. The 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 Japanese market, as measured by the MSCI Japan Index (the Index). The Index consists of stocks traded primarily on the Tokyo Stock Exchange. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.