iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) Sees Large Volume Increase

iShares MSCI Saudi Arabia ETF (NYSEARCA:KSA) saw strong trading volume on Tuesday . 677,407 shares changed hands during trading, an increase of 19% from the previous session’s volume of 570,162 shares.The stock last traded at $41.24 and had previously closed at $40.60.

iShares MSCI Saudi Arabia ETF Stock Up 1.4 %

The business has a 50-day moving average of $42.24 and a 200-day moving average of $42.79. The stock has a market cap of $769.69 million, a price-to-earnings ratio of 17.50 and a beta of 0.58.

Hedge Funds Weigh In On iShares MSCI Saudi Arabia ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glovista Investments LLC raised its holdings in iShares MSCI Saudi Arabia ETF by 83.1% during the third quarter. Glovista Investments LLC now owns 166,845 shares of the company’s stock valued at $6,530,000 after buying an additional 75,729 shares in the last quarter. Florin Court Capital LLP grew its holdings in iShares MSCI Saudi Arabia ETF by 6.9% during the fourth quarter. Florin Court Capital LLP now owns 60,074 shares of the company’s stock valued at $2,543,000 after purchasing an additional 3,897 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of iShares MSCI Saudi Arabia ETF by 13.2% in the fourth quarter. Panagora Asset Management Inc. now owns 83,427 shares of the company’s stock valued at $3,531,000 after purchasing an additional 9,745 shares during the period. Caprock Group LLC bought a new stake in shares of iShares MSCI Saudi Arabia ETF during the 4th quarter worth $207,000. Finally, Comerica Bank acquired a new position in iShares MSCI Saudi Arabia ETF in the 3rd quarter valued at $4,710,000.

About iShares MSCI Saudi Arabia ETF

The iShares MSCI Saudi Arabia ETF (KSA) is an exchange-traded fund that is based on the MSCI Saudi Arabia IMI 25-50 index, a market-cap-weighted index of Saudi Arabian firms covering 99% of the market cap spectrum. KSA was launched on Sep 16, 2015 and is managed by BlackRock.