iShares MSCI Kuwait ETF (BATS:KWT) Trading Down 0.5% – Here’s What Happened

iShares MSCI Kuwait ETF (BATS:KWT)’s share price were down 0.5% during mid-day trading on Monday . The company traded as low as $35.46 and last traded at $35.36. Approximately 1,915 shares were traded during trading, a decline of 77% from the average daily volume of 8,276 shares. The stock had previously closed at $35.54.

iShares MSCI Kuwait ETF Stock Performance

The business has a fifty day simple moving average of $34.78 and a 200-day simple moving average of $33.15. The stock has a market capitalization of $70.71 million, a P/E ratio of 16.34 and a beta of 0.44.

Hedge Funds Weigh In On iShares MSCI Kuwait ETF

Several institutional investors have recently made changes to their positions in the company. Flow Traders U.S. LLC bought a new position in iShares MSCI Kuwait ETF during the 3rd quarter worth about $455,000. Bank of Montreal Can lifted its position in shares of iShares MSCI Kuwait ETF by 8.8% in the 3rd quarter. Bank of Montreal Can now owns 153,632 shares of the company’s stock worth $5,011,000 after purchasing an additional 12,432 shares during the period. OLD Mission Capital LLC bought a new position in shares of iShares MSCI Kuwait ETF during the fourth quarter valued at approximately $307,000. Rhumbline Advisers increased its holdings in iShares MSCI Kuwait ETF by 11.8% during the fourth quarter. Rhumbline Advisers now owns 82,530 shares of the company’s stock valued at $2,659,000 after buying an additional 8,710 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in iShares MSCI Kuwait ETF by 6.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 74,731 shares of the company’s stock valued at $2,408,000 after buying an additional 4,199 shares during the period.

About iShares MSCI Kuwait ETF

The iShares MSCI Kuwait ETF (KWT) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of all-cap stocks in Kuwait. KWT was launched on Sep 1, 2020 and is managed by BlackRock.