iShares MSCI UAE ETF (NASDAQ:UAE) Stock Pass Above 50 Day Moving Average – What’s Next?

iShares MSCI UAE ETF (NASDAQ:UAE) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $15.13 and traded as high as $15.43. iShares MSCI UAE ETF shares last traded at $15.42, with a volume of 245,736 shares traded.

iShares MSCI UAE ETF Stock Performance

The stock has a market capitalization of $45.49 million, a P/E ratio of 8.94 and a beta of 0.64. The stock has a 50-day moving average price of $15.14 and a two-hundred day moving average price of $14.56.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of iShares MSCI UAE ETF by 13.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 256,688 shares of the company’s stock worth $3,899,000 after purchasing an additional 30,851 shares during the period. Panagora Asset Management Inc. purchased a new stake in iShares MSCI UAE ETF in the second quarter worth about $385,000. Comerica Bank boosted its position in iShares MSCI UAE ETF by 8.0% during the 1st quarter. Comerica Bank now owns 108,997 shares of the company’s stock valued at $1,612,000 after acquiring an additional 8,050 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of iShares MSCI UAE ETF by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 278,073 shares of the company’s stock worth $3,824,000 after acquiring an additional 2,901 shares during the period.

iShares MSCI UAE ETF Company Profile

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.