iShares MSCI Japan ETF (NYSEARCA:EWJ) Sets New 52-Week High – Time to Buy?

iShares MSCI Japan ETF (NYSEARCA:EWJ)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $96.77 and last traded at $96.77, with a volume of 9512 shares. The stock had previously closed at $96.26.

iShares MSCI Japan ETF Price Performance

The firm’s 50 day moving average price is $91.32 and its 200-day moving average price is $87.59. The stock has a market cap of $21.75 billion, a P/E ratio of 14.63 and a beta of 0.68.

Hedge Funds Weigh In On iShares MSCI Japan ETF

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in iShares MSCI Japan ETF by 98.6% during the 1st quarter. Royal Bank of Canada now owns 5,048,553 shares of the exchange traded fund’s stock valued at $426,300,000 after purchasing an additional 2,506,472 shares during the last quarter. First Command Advisory Services Inc. raised its stake in shares of iShares MSCI Japan ETF by 0.3% in the fourth quarter. First Command Advisory Services Inc. now owns 4,993,457 shares of the exchange traded fund’s stock worth $403,172,000 after purchasing an additional 13,894 shares during the last quarter. TD Asset Management Inc raised its stake in shares of iShares MSCI Japan ETF by 0.4% in the fourth quarter. TD Asset Management Inc now owns 2,671,796 shares of the exchange traded fund’s stock worth $215,721,000 after purchasing an additional 11,881 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of iShares MSCI Japan ETF by 11.1% during the first quarter. The Manufacturers Life Insurance Company now owns 2,034,620 shares of the exchange traded fund’s stock valued at $171,803,000 after purchasing an additional 203,875 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of iShares MSCI Japan ETF by 25.8% during the fourth quarter. Bank of Montreal Can now owns 1,798,753 shares of the exchange traded fund’s stock valued at $145,231,000 after purchasing an additional 369,260 shares in the last quarter. 64.60% of the stock is currently owned by hedge funds and other institutional investors.

About iShares MSCI Japan ETF

iShares MSCI Japan ETF (the fund), formerly Ishares Msci Japan Index Fund, is an exchange-traded fund. The 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 Japanese market, as measured by the MSCI Japan Index (the Index). The Index consists of stocks traded primarily on the Tokyo Stock Exchange. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.