iShares MSCI Kuwait ETF (BATS:KWT) Trading Down 0.7% – Here’s What Happened

iShares MSCI Kuwait ETF (BATS:KWT) shares dropped 0.7% during trading on Friday . The stock traded as low as $35.58 and last traded at $35.58. Approximately 7,150 shares changed hands during trading, a decline of 40% from the average daily volume of 11,840 shares. The stock had previously closed at $35.82.

iShares MSCI Kuwait ETF Price Performance

The stock has a 50-day moving average price of $36.90 and a two-hundred day moving average price of $38.47. The stock has a market cap of $83.61 million, a PE ratio of 17.65 and a beta of 0.45.

Institutional Trading of iShares MSCI Kuwait ETF

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of iShares MSCI Kuwait ETF during the 2nd quarter worth approximately $10,561,000. IFM Investors Pty Ltd bought a new stake in iShares MSCI Kuwait ETF in the third quarter worth $4,351,000. Geode Capital Management LLC bought a new stake in iShares MSCI Kuwait ETF in the fourth quarter worth $2,409,000. JPMorgan Chase & Co. raised its stake in iShares MSCI Kuwait ETF by 573.4% during the third quarter. JPMorgan Chase & Co. now owns 27,144 shares of the company’s stock valued at $1,074,000 after purchasing an additional 23,113 shares in the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in iShares MSCI Kuwait ETF during the second quarter valued at $793,000.

About iShares MSCI Kuwait ETF

The iShares MSCI Kuwait ETF (KWT) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of all-cap stocks in Kuwait. KWT was launched on Sep 1, 2020 and is managed by BlackRock.