iShares MSCI South Korea ETF (NYSEARCA:EWY) Short Interest Down 43.0% in July

iShares MSCI South Korea ETF (NYSEARCA:EWY) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 21,064,734 shares, a drop of 43.0% from the July 15th total of 36,969,319 shares. Currently, 14.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 28,449,100 shares, the days-to-cover ratio is currently 0.7 days.

iShares MSCI South Korea ETF Stock Up 5.3%

Shares of NYSEARCA EWY traded up $9.50 during mid-day trading on Monday, reaching $189.24. 7,868,195 shares of the company were exchanged, compared to its average volume of 20,364,902. iShares MSCI South Korea ETF has a 52 week low of $70.93 and a 52 week high of $220.89. The company’s 50 day moving average price is $180.79 and its 200 day moving average price is $160.34. The stock has a market capitalization of $27.48 billion, a PE ratio of 10.35 and a beta of 1.49.

Hedge Funds Weigh In On iShares MSCI South Korea ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Main Street Research LLC purchased a new position in iShares MSCI South Korea ETF in the 4th quarter worth $34,558,000. MRA Advisory Group boosted its position in iShares MSCI South Korea ETF by 1,746.7% during the first quarter. MRA Advisory Group now owns 54,718 shares of the exchange traded fund’s stock valued at $6,731,000 after buying an additional 51,755 shares during the period. Lombard Odier Asset Management USA Corp bought a new position in shares of iShares MSCI South Korea ETF during the fourth quarter valued at about $820,000. Strategic Global Advisors LLC purchased a new position in shares of iShares MSCI South Korea ETF in the fourth quarter worth about $664,000. Finally, Hsbc Holdings PLC increased its holdings in shares of iShares MSCI South Korea ETF by 1,764.2% in the fourth quarter. Hsbc Holdings PLC now owns 1,897,337 shares of the exchange traded fund’s stock worth $184,457,000 after buying an additional 1,795,557 shares during the period. 49.22% of the stock is currently owned by hedge funds and other institutional investors.

iShares MSCI South Korea ETF Company Profile

iShares MSCI South Korea Capped ETF (the Fund) is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Korea 25/50 Index (the Index). The Index consists of stocks traded primarily on the Stock Market Division of the Korean Exchange. The Index is a free-float adjusted market capitalization weighted index with a capping methodology applied to issuer weights so that no issuer of a component exceeds 25% of the Index weight and all issuers with weight above 5% do not exceed 50% of the Index weight.