Short Interest in iShares MSCI Turkey ETF (NASDAQ:TUR) Drops By 22.5%

iShares MSCI Turkey ETF (NASDAQ:TUR) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 282,900 shares, a drop of 22.5% from the August 15th total of 365,200 shares. Based on an average trading volume of 106,100 shares, the days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On iShares MSCI Turkey ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of iShares MSCI Turkey ETF by 64.6% in the 4th quarter. BNP Paribas Financial Markets now owns 15,456 shares of the exchange traded fund’s stock worth $499,000 after acquiring an additional 6,066 shares in the last quarter. Gallacher Capital Management LLC increased its holdings in iShares MSCI Turkey ETF by 7.3% in the second quarter. Gallacher Capital Management LLC now owns 32,136 shares of the exchange traded fund’s stock worth $1,350,000 after purchasing an additional 2,192 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in iShares MSCI Turkey ETF in the second quarter valued at approximately $541,000. V Square Quantitative Management LLC acquired a new position in iShares MSCI Turkey ETF in the second quarter valued at approximately $31,000. Finally, OLD Mission Capital LLC bought a new position in shares of iShares MSCI Turkey ETF during the 1st quarter worth approximately $5,503,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

iShares MSCI Turkey ETF Stock Performance

NASDAQ:TUR opened at $36.25 on Tuesday. iShares MSCI Turkey ETF has a 52 week low of $31.55 and a 52 week high of $44.41. The firm’s fifty day moving average is $39.44 and its 200-day moving average is $39.58. The firm has a market cap of $208.44 million, a P/E ratio of 5.50 and a beta of 0.68.

About iShares MSCI Turkey ETF

iShares MSCI Turkey ETF (the Fund), formerly The iShares MSCI Turkey Investable Market Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the MSCI Turkey Investable Market Index (the Underlying Index). The Underlying Index is a free float-adjusted market capitalization index designed to measure equity market performance in Turkey.