iShares MSCI UAE ETF (NASDAQ:UAE) Share Price Pass Above 50 Day Moving Average – Here’s Why

iShares MSCI UAE ETF (NASDAQ:UAE)’s share price crossed 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 changing hands.

iShares MSCI UAE ETF Trading Up 0.4 %

The stock’s fifty day moving average price is $15.14 and its 200 day moving average price is $14.56. The stock has a market cap of $45.49 million, a P/E ratio of 8.94 and a beta of 0.64.

Institutional Investors Weigh In On iShares MSCI UAE ETF

Several hedge funds have recently bought and sold shares of UAE. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of iShares MSCI UAE ETF by 13.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 256,688 shares of the company’s stock valued at $3,899,000 after purchasing an additional 30,851 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of iShares MSCI UAE ETF in the 2nd quarter worth approximately $385,000. Comerica Bank increased 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 buying an additional 8,050 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in iShares MSCI UAE ETF by 1.1% during the second quarter. Rhumbline Advisers now owns 278,073 shares of the company’s stock valued at $3,824,000 after buying an additional 2,901 shares during the last quarter.

About iShares MSCI UAE ETF

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.