iShares China Large-Cap ETF (NYSEARCA:FXI) Shares Down 8.8% – Here’s Why

iShares China Large-Cap ETF (NYSEARCA:FXI) shares dropped 8.8% during trading on Monday . The stock traded as low as $30.12 and last traded at $29.86. Approximately 87,489,668 shares traded hands during mid-day trading, an increase of 82% from the average daily volume of 48,131,156 shares. The stock had previously closed at $32.74.

iShares China Large-Cap ETF Trading Down 8.4 %

The stock’s 50 day moving average is $35.09 and its two-hundred day moving average is $32.51. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 10.21 and a beta of 0.28.

Hedge Funds Weigh In On iShares China Large-Cap ETF

A number of large investors have recently bought and sold shares of FXI. Concourse Financial Group Securities Inc. grew its stake in iShares China Large-Cap ETF by 108.4% in the fourth quarter. Concourse Financial Group Securities Inc. now owns 921 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 479 shares in the last quarter. HM Payson & Co. acquired a new position in shares of iShares China Large-Cap ETF during the 4th quarter worth about $30,000. Franklin Resources Inc. acquired a new stake in iShares China Large-Cap ETF in the 3rd quarter valued at about $31,000. Millstone Evans Group LLC acquired a new stake in shares of iShares China Large-Cap ETF in the fourth quarter valued at approximately $48,000. Finally, Headlands Technologies LLC acquired a new position in shares of iShares China Large-Cap ETF during the 4th quarter worth approximately $53,000.

About iShares China Large-Cap ETF

iShares China Large-Cap ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the FTSE China 25 Index (the Underlying Index). The Fund’s portfolio of sectors include Financials, Telecommunication, Oil & gas, Technology and Consumer goods.