iShares MSCI Brazil ETF (NYSEARCA:EWZ) Sets New 1-Year High – Should You Buy?

Shares of iShares MSCI Brazil ETF (NYSEARCA:EWZ) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.30 and last traded at $40.30, with a volume of 293464 shares trading hands. The stock had previously closed at $38.46.

iShares MSCI Brazil ETF Stock Up 3.0%

The firm has a market capitalization of $10.09 billion, a P/E ratio of 9.58 and a beta of 0.78. The firm has a 50 day moving average of $37.65 and a 200-day moving average of $34.02.

Institutional Investors Weigh In On iShares MSCI Brazil ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in EWZ. Royal Bank of Canada lifted its stake in iShares MSCI Brazil ETF by 18.0% during the first quarter. Royal Bank of Canada now owns 344,041 shares of the exchange traded fund’s stock worth $8,894,000 after purchasing an additional 52,532 shares during the last quarter. NewEdge Advisors LLC lifted its stake in iShares MSCI Brazil ETF by 819.7% during the first quarter. NewEdge Advisors LLC now owns 1,683 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 1,500 shares during the last quarter. M&T Bank Corp lifted its stake in iShares MSCI Brazil ETF by 31.9% during the second quarter. M&T Bank Corp now owns 31,760 shares of the exchange traded fund’s stock worth $916,000 after purchasing an additional 7,682 shares during the last quarter. CW Advisors LLC bought a new stake in iShares MSCI Brazil ETF during the second quarter worth $243,000. Finally, Cresset Asset Management LLC lifted its stake in iShares MSCI Brazil ETF by 12.8% during the second quarter. Cresset Asset Management LLC now owns 22,430 shares of the exchange traded fund’s stock worth $647,000 after purchasing an additional 2,541 shares during the last quarter. 72.69% of the stock is currently owned by institutional investors.

About iShares MSCI Brazil ETF

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.