iShares MSCI UAE ETF (NASDAQ:UAE) Sees Large Increase in Short Interest

iShares MSCI UAE ETF (NASDAQ:UAE) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 168,800 shares, a growth of 67.5% from the August 31st total of 100,800 shares. Based on an average trading volume of 30,800 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Investors Weigh In On iShares MSCI UAE ETF

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of 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. Yousif Capital Management LLC boosted its stake in iShares MSCI UAE ETF by 8.0% during the 1st quarter. Yousif Capital Management LLC now owns 108,997 shares of the company’s stock valued at $1,612,000 after purchasing an additional 8,050 shares during the last quarter. Comerica Bank increased its holdings 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 purchasing an additional 8,050 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of iShares MSCI UAE ETF in the second quarter worth approximately $385,000. Finally, Moneda S.A. Administradora General de Fondos bought a new position in shares of iShares MSCI UAE ETF in the first quarter valued at approximately $229,000.

iShares MSCI UAE ETF Stock Performance

Shares of UAE stock traded down $0.02 during trading hours on Friday, hitting $15.42. 22,348 shares of the company were exchanged, compared to its average volume of 25,966. The company has a 50 day simple moving average of $14.80 and a two-hundred day simple moving average of $14.43. The firm has a market cap of $37.01 million, a P/E ratio of 8.94 and a beta of 0.64. iShares MSCI UAE ETF has a fifty-two week low of $13.24 and a fifty-two week high of $15.69.

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.