Short Interest in iShares MSCI Brazil ETF (NYSEARCA:EWZ) Drops By 38.9%

iShares MSCI Brazil ETF (NYSEARCA:EWZ) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 46,142,847 shares, a decrease of 38.9% from the April 15th total of 75,496,379 shares. Based on an average daily trading volume, of 26,797,853 shares, the days-to-cover ratio is currently 1.7 days. Currently, 15.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of Nova Scotia increased its holdings in iShares MSCI Brazil ETF by 10,490.4% during the 1st quarter. Bank of Nova Scotia now owns 5,507,028 shares of the exchange traded fund’s stock worth $211,416,000 after purchasing an additional 5,455,028 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. increased its holdings in iShares MSCI Brazil ETF by 1.5% during the 1st quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 3,951,900 shares of the exchange traded fund’s stock worth $25,220,000 after purchasing an additional 57,100 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in iShares MSCI Brazil ETF by 12,304.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,119,561 shares of the exchange traded fund’s stock worth $119,760,000 after purchasing an additional 3,094,413 shares during the period. Bessemer Group Inc. purchased a new position in iShares MSCI Brazil ETF during the 1st quarter worth $108,733,000. Finally, SG Americas Securities LLC increased its holdings in iShares MSCI Brazil ETF by 645.6% during the 1st quarter. SG Americas Securities LLC now owns 2,344,250 shares of the exchange traded fund’s stock worth $89,996,000 after purchasing an additional 2,029,838 shares during the period. 72.69% of the stock is currently owned by hedge funds and other institutional investors.

iShares MSCI Brazil ETF Trading Down 2.3%

Shares of NYSEARCA EWZ traded down $0.84 during midday trading on Tuesday, hitting $35.90. The company’s stock had a trading volume of 19,445,245 shares, compared to its average volume of 35,166,984. The business’s 50 day moving average is $38.47 and its two-hundred day moving average is $35.82. iShares MSCI Brazil ETF has a 12-month low of $26.30 and a 12-month high of $42.02. The firm has a market cap of $10.48 billion, a P/E ratio of 9.58 and a beta of 0.65.

About iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.