iShares MSCI South Korea ETF (NYSEARCA:EWY) Reaches New 12-Month High – Still a Buy?

iShares MSCI South Korea ETF (NYSEARCA:EWY) shares hit a new 52-week high on Wednesday . The stock traded as high as $127.35 and last traded at $127.6230, with a volume of 158814 shares. The stock had previously closed at $124.45.

iShares MSCI South Korea ETF Stock Performance

The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 10.35 and a beta of 1.22. The company has a 50-day moving average of $106.01 and a 200-day moving average of $90.82.

Institutional Investors Weigh In On iShares MSCI South Korea ETF

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of iShares MSCI South Korea ETF by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 239,956 shares of the exchange traded fund’s stock worth $12,967,000 after purchasing an additional 52,259 shares during the period. Aberdeen Group plc raised its position in iShares MSCI South Korea ETF by 41.2% during the 2nd quarter. Aberdeen Group plc now owns 159,066 shares of the exchange traded fund’s stock worth $11,397,000 after buying an additional 46,451 shares during the last quarter. CWM LLC lifted its stake in shares of iShares MSCI South Korea ETF by 328.8% in the 2nd quarter. CWM LLC now owns 596 shares of the exchange traded fund’s stock worth $43,000 after acquiring an additional 457 shares during the period. Cypress Capital Group boosted its holdings in shares of iShares MSCI South Korea ETF by 11.0% in the second quarter. Cypress Capital Group now owns 7,050 shares of the exchange traded fund’s stock valued at $506,000 after acquiring an additional 700 shares in the last quarter. Finally, Twin Tree Management LP increased its stake in shares of iShares MSCI South Korea ETF by 1,466.7% during the second quarter. Twin Tree Management LP now owns 197,269 shares of the exchange traded fund’s stock worth $14,160,000 after acquiring an additional 184,678 shares during the period. Hedge funds and other institutional investors own 49.22% of the company’s stock.

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. The Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no issuer of a component exceeds 25% of the Index weight and all issuers with weight above 5% do not exceed 50% of the Index weight.