Short Interest in iShares MSCI UAE ETF (NASDAQ:UAE) Increases By 33.9%

iShares MSCI UAE ETF (NASDAQ:UAE) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 160,000 shares, an increase of 33.9% from the October 31st total of 119,500 shares. Based on an average trading volume of 50,400 shares, the days-to-cover ratio is presently 3.2 days.

iShares MSCI UAE ETF Trading Up 0.4 %

Shares of UAE opened at $15.55 on Friday. The business’s 50-day moving average price is $15.15 and its 200 day moving average price is $14.58. The stock has a market capitalization of $45.88 million, a P/E ratio of 8.94 and a beta of 0.64. iShares MSCI UAE ETF has a 1-year low of $13.24 and a 1-year high of $15.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of iShares MSCI UAE ETF by 13.7% in 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. Rhumbline Advisers lifted its stake in iShares MSCI UAE ETF by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 278,073 shares of the company’s stock worth $3,824,000 after acquiring an additional 2,901 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in iShares MSCI UAE ETF in the 2nd quarter worth about $385,000. Finally, Comerica Bank boosted 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 worth $1,612,000 after acquiring an additional 8,050 shares during the period.

iShares MSCI UAE ETF Company Profile

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.