iShares MSCI Hong Kong ETF (NYSEARCA:EWH) Shares Down 7.8% – Here’s Why

iShares MSCI Hong Kong ETF (NYSEARCA:EWH)’s share price were down 7.8% during trading on Tuesday . The company traded as low as $18.67 and last traded at $18.76. Approximately 1,377,771 shares were traded during trading, a decline of 46% from the average daily volume of 2,574,250 shares. The stock had previously closed at $20.35.

iShares MSCI Hong Kong ETF Price Performance

The company’s 50-day simple moving average is $16.44 and its 200 day simple moving average is $16.16.

Institutional Investors Weigh In On iShares MSCI Hong Kong ETF

Institutional investors have recently modified their holdings of the company. McAdam LLC purchased a new position in iShares MSCI Hong Kong ETF in the second quarter valued at approximately $196,000. Upper Left Wealth Management LLC acquired a new stake in iShares MSCI Hong Kong ETF during the 2nd quarter worth $226,000. Hsbc Holdings PLC purchased a new stake in iShares MSCI Hong Kong ETF in the second quarter valued at $254,000. Idaho Trust Bank acquired a new position in iShares MSCI Hong Kong ETF in the second quarter valued at $404,000. Finally, Gould Asset Management LLC CA grew its holdings in shares of iShares MSCI Hong Kong ETF by 23.1% during the first quarter. Gould Asset Management LLC CA now owns 38,436 shares of the exchange traded fund’s stock worth $598,000 after purchasing an additional 7,210 shares during the last quarter. 50.59% of the stock is owned by hedge funds and other institutional investors.

About iShares MSCI Hong Kong ETF

iShares MSCI Hong Kong Index Fund, formerly Shares MSCI Hong Kong ETF, (the Fund), is an exchange-traded fund. The Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Hong Kong market, as measured by the MSCI Hong Kong Index (the Index).