Short Interest in iShares MSCI UAE ETF (NASDAQ:UAE) Increases By 44.6%

iShares MSCI UAE ETF (NASDAQ:UAE) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 549,400 shares, a growth of 44.6% from the February 28th total of 380,000 shares. Currently, 12.1% of the shares of the company are sold short. Based on an average trading volume of 166,100 shares, the short-interest ratio is currently 3.3 days.

Institutional Investors Weigh In On iShares MSCI UAE ETF

A number of institutional investors and hedge funds have recently modified their holdings of UAE. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in iShares MSCI UAE ETF by 4.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 269,024 shares of the company’s stock worth $4,428,000 after buying an additional 12,336 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of iShares MSCI UAE ETF in the 4th quarter valued at $3,409,000. Bank of America Corp DE increased its stake in shares of iShares MSCI UAE ETF by 2,696.8% in the fourth quarter. Bank of America Corp DE now owns 173,401 shares of the company’s stock worth $2,854,000 after acquiring an additional 167,201 shares during the period. Wellington Management Group LLP raised its holdings in shares of iShares MSCI UAE ETF by 94.3% during the fourth quarter. Wellington Management Group LLP now owns 136,210 shares of the company’s stock worth $2,242,000 after purchasing an additional 66,105 shares during the last quarter. Finally, Comerica Bank lifted its position in iShares MSCI UAE ETF by 6.4% during the fourth quarter. Comerica Bank now owns 123,991 shares of the company’s stock valued at $2,041,000 after purchasing an additional 7,500 shares during the period.

iShares MSCI UAE ETF Stock Performance

Shares of UAE opened at $16.97 on Tuesday. The stock has a 50-day moving average of $17.18 and a two-hundred day moving average of $16.14. The stock has a market cap of $107.76 million, a P/E ratio of 9.78 and a beta of 0.61. iShares MSCI UAE ETF has a one year low of $13.25 and a one year high of $17.69.

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.