iShares MSCI Brazil ETF (NYSEARCA:EWZ) Stock Price Down 4.4% – Here’s Why

Shares of iShares MSCI Brazil ETF (NYSEARCA:EWZ) fell 4.4% during trading on Wednesday . The company traded as low as $22.89 and last traded at $22.95. 25,298,432 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 20,959,568 shares. The stock had previously closed at $24.00.

iShares MSCI Brazil ETF Stock Performance

The business has a 50 day moving average price of $26.97 and a two-hundred day moving average price of $28.18. The company has a market cap of $3.63 billion, a P/E ratio of 5.65 and a beta of 0.93.

Institutional Investors Weigh In On iShares MSCI Brazil ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EWZ. FMR LLC raised its position in shares of iShares MSCI Brazil ETF by 174.5% in the 3rd quarter. FMR LLC now owns 947 shares of the exchange traded fund’s stock worth $28,000 after purchasing an additional 602 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in iShares MSCI Brazil ETF in the 2nd quarter worth about $36,000. International Assets Investment Management LLC bought a new position in iShares MSCI Brazil ETF during the 2nd quarter valued at about $61,000. Hollencrest Capital Management purchased a new stake in shares of iShares MSCI Brazil ETF during the 2nd quarter valued at about $102,000. Finally, Retirement Planning Co of New England Inc. grew its stake in shares of iShares MSCI Brazil ETF by 8.5% in the second quarter. Retirement Planning Co of New England Inc. now owns 7,352 shares of the exchange traded fund’s stock worth $201,000 after acquiring an additional 578 shares during the period.

About iShares MSCI Brazil ETF

iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index 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 Brazilian market, as measured by the MSCI Brazil Index (the Index).