iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Short Interest Update

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 6,597,917 shares, a growth of 18.5% from the February 26th total of 5,569,034 shares. Based on an average trading volume of 1,400,991 shares, the days-to-cover ratio is currently 4.7 days. Currently, 39.3% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional 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 Saudi Arabia ETF in the 2nd quarter valued at approximately $40,351,000. Mondrian Investment Partners LTD acquired a new stake in shares of iShares MSCI Saudi Arabia ETF in the 3rd quarter valued at $33,223,000. Millennium Management LLC purchased a new stake in shares of iShares MSCI Saudi Arabia ETF during the 3rd quarter worth $15,628,000. Bank of America Corp DE lifted its position in shares of iShares MSCI Saudi Arabia ETF by 105.2% during the 3rd quarter. Bank of America Corp DE now owns 589,203 shares of the company’s stock worth $23,910,000 after purchasing an additional 302,092 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new position in shares of iShares MSCI Saudi Arabia ETF during the fourth quarter worth $10,945,000.

iShares MSCI Saudi Arabia ETF Stock Up 1.3%

NYSEARCA KSA traded up $0.52 during trading hours on Tuesday, hitting $39.31. 176,198 shares of the company were exchanged, compared to its average volume of 1,041,197. The company has a 50 day moving average of $38.47 and a two-hundred day moving average of $38.48. iShares MSCI Saudi Arabia ETF has a 52-week low of $35.81 and a 52-week high of $41.55. The firm has a market cap of $660.41 million, a price-to-earnings ratio of 15.67 and a beta of 0.46.

About iShares MSCI Saudi Arabia ETF

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.