iShares Europe ETF (NYSEARCA:IEV) Hits New 12-Month High – Still a Buy?

iShares Europe ETF (NYSEARCA:IEV) hit a new 52-week high during trading on Wednesday . The stock traded as high as $75.39 and last traded at $75.34, with a volume of 212588 shares trading hands. The stock had previously closed at $74.61.

iShares Europe ETF Stock Down 0.1%

The stock has a 50 day simple moving average of $72.89 and a two-hundred day simple moving average of $71.70. The stock has a market capitalization of $1.69 billion, a P/E ratio of 16.48 and a beta of 0.81.

Hedge Funds Weigh In On iShares Europe ETF

A number of institutional investors have recently added to or reduced their stakes in the company. Sax Wealth Advisors LLC acquired a new stake in iShares Europe ETF in the second quarter valued at $458,000. Foguth Wealth Management LLC. bought a new position in iShares Europe ETF during the first quarter worth about $212,000. Bank of America Corp DE increased its position in iShares Europe ETF by 8.0% during the first quarter. Bank of America Corp DE now owns 367,474 shares of the company’s stock worth $24,966,000 after buying an additional 27,139 shares during the last quarter. Strategic Investment Advisors MI bought a new stake in iShares Europe ETF in the first quarter valued at approximately $131,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of iShares Europe ETF by 26.4% in the first quarter. EverSource Wealth Advisors LLC now owns 6,725 shares of the company’s stock valued at $457,000 after buying an additional 1,406 shares during the last quarter.

About iShares Europe ETF

iShares Europe ETF (the Fund), formerly iShares S&P Europe 350 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Europe 350 (the Index). The Index measures the performance of the stocks of companies in the countries, which includes Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.