iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Gap Down – Here’s Why

Shares of iShares MSCI South Korea ETF (NYSEARCA:EWY) gapped down before the market opened on Tuesday . The stock had previously closed at $147.54, but opened at $130.04. iShares MSCI South Korea ETF shares last traded at $125.6950, with a volume of 12,369,143 shares trading hands.

iShares MSCI South Korea ETF Stock Performance

The firm has a market capitalization of $13.22 billion, a PE ratio of 10.35 and a beta of 1.22. The business’s 50 day moving average is $120.68 and its two-hundred day moving average is $98.02.

Institutional Trading of iShares MSCI South Korea ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC lifted its holdings in shares of iShares MSCI South Korea ETF by 179.5% in the second quarter. Innealta Capital LLC now owns 27,391 shares of the exchange traded fund’s stock worth $1,966,000 after buying an additional 17,590 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in iShares MSCI South Korea ETF during the 3rd quarter worth approximately $394,000. ABC Arbitrage SA bought a new stake in iShares MSCI South Korea ETF during the 3rd quarter worth approximately $512,000. Cullen Capital Management LLC lifted its stake in iShares MSCI South Korea ETF by 94.0% in the 2nd quarter. Cullen Capital Management LLC now owns 196,402 shares of the exchange traded fund’s stock worth $14,098,000 after purchasing an additional 95,185 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in iShares MSCI South Korea ETF by 6.2% in the 3rd quarter. Cibc World Market Inc. now owns 81,215 shares of the exchange traded fund’s stock worth $6,505,000 after purchasing an additional 4,733 shares in the last quarter. 49.22% of the stock is currently owned by institutional investors.

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.