PNC Financial Services Group Inc. Lowers Position in iShares MSCI China ETF $MCHI

PNC Financial Services Group Inc. decreased its stake in shares of iShares MSCI China ETF (NASDAQ:MCHI) by 62.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 19,310 shares of the company’s stock after selling 32,021 shares during the quarter. PNC Financial Services Group Inc.’s holdings in iShares MSCI China ETF were worth $1,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCHI. Bank of America Corp DE raised its stake in iShares MSCI China ETF by 855.9% during the third quarter. Bank of America Corp DE now owns 1,479,714 shares of the company’s stock worth $97,439,000 after purchasing an additional 1,324,910 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of iShares MSCI China ETF during the 1st quarter valued at $54,607,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of iShares MSCI China ETF by 19,983.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 916,424 shares of the company’s stock valued at $55,050,000 after buying an additional 911,861 shares during the period. Phoenix Financial Ltd. grew its stake in shares of iShares MSCI China ETF by 164.6% during the 4th quarter. Phoenix Financial Ltd. now owns 1,322,800 shares of the company’s stock valued at $79,461,000 after buying an additional 822,800 shares during the period. Finally, Temasek Holdings Private Ltd acquired a new stake in shares of iShares MSCI China ETF during the 4th quarter worth $44,741,000.

iShares MSCI China ETF Stock Up 0.5%

MCHI stock opened at $55.79 on Friday. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 13.11 and a beta of 0.33. The business has a fifty day simple moving average of $53.58 and a 200-day simple moving average of $57.05. iShares MSCI China ETF has a 52 week low of $49.88 and a 52 week high of $67.37.

iShares MSCI China ETF Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were given a dividend of $0.3613 per share. The ex-dividend date of this dividend was Monday, June 15th.

About iShares MSCI China ETF

iShares MSCI China ETF, formerly iShares MSCI China Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond to the price and yield performance, of the MSCI China Index (the Underlying Index). The Fund is designed to measure the performance of the top 85% of equity securities by market capitalization in the Chinese equity markets. Securities are weighted based on the total market value of their shares so that securities with higher total market values generally have a higher representation in the index.