iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Short Interest Up 18.5% in March

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 6,597,917 shares, an increase of 18.5% from the February 26th total of 5,569,034 shares. Based on an average trading volume of 1,400,991 shares, the short-interest ratio is currently 4.7 days. Approximately 39.3% of the company’s stock are sold short.

Institutional Investors Weigh In On iShares MSCI Saudi Arabia ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in iShares MSCI Saudi Arabia ETF in the 2nd quarter valued at approximately $40,351,000. Mondrian Investment Partners LTD bought a new stake in shares of iShares MSCI Saudi Arabia ETF in the 3rd quarter worth $33,223,000. Millennium Management LLC bought a new stake in shares of iShares MSCI Saudi Arabia ETF in the 3rd quarter worth $15,628,000. Bank of America Corp DE raised its stake in shares of iShares MSCI Saudi Arabia ETF by 105.2% in the third quarter. Bank of America Corp DE now owns 589,203 shares of the company’s stock worth $23,910,000 after purchasing an additional 302,092 shares during the last quarter. Finally, OLD Mission Capital LLC bought a new position in shares of iShares MSCI Saudi Arabia ETF during the fourth quarter valued at $10,945,000.

iShares MSCI Saudi Arabia ETF Price Performance

KSA opened at $39.75 on Wednesday. The firm has a market cap of $667.80 million, a PE ratio of 15.67 and a beta of 0.46. The stock has a 50-day moving average price of $38.50 and a 200-day moving average price of $38.50. iShares MSCI Saudi Arabia ETF has a 1 year low of $35.81 and a 1 year high of $41.55.

About iShares MSCI Saudi Arabia ETF

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.