iShares MSCI Japan ETF (NYSEARCA:EWJ) Reaches New 1-Year High – Still a Buy?

iShares MSCI Japan ETF (NYSEARCA:EWJ)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $98.81 and last traded at $98.44, with a volume of 1027549 shares changing hands. The stock had previously closed at $97.96.

iShares MSCI Japan ETF Trading Down 1.8%

The firm has a market capitalization of $23.25 billion, a P/E ratio of 14.63 and a beta of 0.69. The company’s fifty day simple moving average is $95.30 and its 200 day simple moving average is $91.76.

Hedge Funds Weigh In On iShares MSCI Japan ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in iShares MSCI Japan ETF by 98.6% in the first quarter. Royal Bank of Canada now owns 5,048,553 shares of the exchange traded fund’s stock worth $426,300,000 after buying an additional 2,506,472 shares during the period. Bessemer Group Inc. boosted its position in iShares MSCI Japan ETF by 2,279.0% during the 1st quarter. Bessemer Group Inc. now owns 1,670,435 shares of the exchange traded fund’s stock valued at $141,051,000 after acquiring an additional 1,600,219 shares in the last quarter. Keewaydin Investments LLC purchased a new position in shares of iShares MSCI Japan ETF during the 4th quarter worth approximately $43,606,000. OMERS ADMINISTRATION Corp purchased a new position in shares of iShares MSCI Japan ETF during the 1st quarter worth approximately $38,222,000. Finally, Lido Advisors LLC raised its position in shares of iShares MSCI Japan ETF by 142.9% in the 1st quarter. Lido Advisors LLC now owns 556,904 shares of the exchange traded fund’s stock worth $47,025,000 after acquiring an additional 327,597 shares in the last quarter. Hedge funds and other institutional investors own 64.60% of the company’s stock.

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.