iShares MSCI Taiwan ETF (NYSEARCA:EWT) Sees Unusually-High Trading Volume – Still a Buy?

iShares MSCI Taiwan ETF (NYSEARCA:EWT) saw unusually-high trading volume on Monday . Approximately 1,354,244 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 1,532,902 shares.The stock last traded at $53.76 and had previously closed at $52.23.

iShares MSCI Taiwan ETF Trading Down 1.1 %

The company has a market cap of $4.61 billion, a PE ratio of 13.20 and a beta of 0.96. The firm’s fifty day moving average is $53.74 and its 200 day moving average is $53.71.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EWT. Sun Life Financial Inc. lifted its holdings in iShares MSCI Taiwan ETF by 21.2% in the 2nd quarter. Sun Life Financial Inc. now owns 1,949,950 shares of the exchange traded fund’s stock valued at $105,668,000 after purchasing an additional 340,700 shares in the last quarter. Millburn Ridgefield Corp grew its stake in iShares MSCI Taiwan ETF by 0.5% during the 3rd quarter. Millburn Ridgefield Corp now owns 1,019,176 shares of the exchange traded fund’s stock valued at $54,903,000 after acquiring an additional 5,232 shares in the last quarter. Wellington Management Group LLP grew its stake in iShares MSCI Taiwan ETF by 5.3% during the 3rd quarter. Wellington Management Group LLP now owns 991,195 shares of the exchange traded fund’s stock valued at $53,396,000 after acquiring an additional 49,532 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in iShares MSCI Taiwan ETF in the 3rd quarter valued at about $17,778,000. Finally, Principal Financial Group Inc. lifted its stake in iShares MSCI Taiwan ETF by 163.7% in the 3rd quarter. Principal Financial Group Inc. now owns 271,168 shares of the exchange traded fund’s stock worth $14,608,000 after purchasing an additional 168,341 shares in the last quarter.

About iShares MSCI Taiwan ETF

Ishares MSCI Taiwan Index Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Taiwan IndexSM (the Index). The Index consists of stocks traded primarily on the Taiwan Stock Exchange.