iShares MSCI South Korea ETF (NYSEARCA:EWY) Shares Gap Down – Here’s Why

iShares MSCI South Korea ETF (NYSEARCA:EWY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $58.14, but opened at $56.59. iShares MSCI South Korea ETF shares last traded at $56.70, with a volume of 190,006 shares traded.

iShares MSCI South Korea ETF Stock Down 1.2 %

The stock has a market capitalization of $4.56 billion, a PE ratio of 9.60 and a beta of 1.25. The business’s 50-day moving average is $60.92 and its two-hundred day moving average is $63.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sun Life Financial Inc. raised its holdings in iShares MSCI South Korea ETF by 46.0% during the second quarter. Sun Life Financial Inc. now owns 1,490,773 shares of the exchange traded fund’s stock worth $98,525,000 after purchasing an additional 469,500 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of iShares MSCI South Korea ETF by 49.7% during the 2nd quarter. Hsbc Holdings PLC now owns 1,263,030 shares of the exchange traded fund’s stock worth $83,474,000 after buying an additional 419,112 shares in the last quarter. City of London Investment Management Co. Ltd. lifted its holdings in shares of iShares MSCI South Korea ETF by 125.2% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 519,978 shares of the exchange traded fund’s stock valued at $34,365,000 after buying an additional 289,047 shares during the period. MKP Capital Management L.L.C. purchased a new stake in shares of iShares MSCI South Korea ETF in the second quarter valued at approximately $17,252,000. Finally, Bank of Montreal Can grew its holdings in iShares MSCI South Korea ETF by 15,976.1% during the third quarter. Bank of Montreal Can now owns 233,907 shares of the exchange traded fund’s stock worth $15,517,000 after acquiring an additional 232,452 shares during the period.

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.