iShares MSCI UAE ETF (NASDAQ:UAE) Short Interest Down 56.0% in June

iShares MSCI UAE ETF (NASDAQ:UAE) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 539,318 shares, a drop of 56.0% from the June 15th total of 1,226,867 shares. Based on an average daily volume of 384,732 shares, the days-to-cover ratio is presently 1.4 days. Currently, 3.3% of the shares of the stock are sold short.

iShares MSCI UAE ETF Stock Down 1.7%

Shares of UAE opened at $19.14 on Tuesday. The business’s 50-day moving average price is $19.21 and its 200-day moving average price is $19.59. iShares MSCI UAE ETF has a twelve month low of $17.29 and a twelve month high of $22.29. The stock has a market cap of $311.02 million, a PE ratio of 10.93 and a beta of 0.43.

iShares MSCI UAE ETF Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were paid a dividend of $0.6631 per share. The ex-dividend date of this dividend was Monday, June 15th.

Hedge Funds Weigh In On iShares MSCI UAE ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in iShares MSCI UAE ETF by 3,217.9% in the 1st quarter. Bank of America Corp DE now owns 215,697 shares of the company’s stock worth $4,023,000 after acquiring an additional 209,196 shares during the last quarter. Sparta 24 Ltd. bought a new stake in shares of iShares MSCI UAE ETF during the 1st quarter valued at about $22,211,000. Gallacher Capital Management LLC grew its holdings in shares of iShares MSCI UAE ETF by 3.9% during the first quarter. Gallacher Capital Management LLC now owns 32,258 shares of the company’s stock worth $602,000 after purchasing an additional 1,224 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of iShares MSCI UAE ETF by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 59,168 shares of the company’s stock worth $1,103,000 after purchasing an additional 5,114 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of iShares MSCI UAE ETF by 2.2% in the first quarter. Sanctuary Advisors LLC now owns 48,170 shares of the company’s stock worth $898,000 after purchasing an additional 1,056 shares during the last quarter.

iShares MSCI UAE ETF Company Profile

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.