iShares MSCI Kuwait ETF (BATS:KWT) Trading Up 1.1% – Here’s Why

iShares MSCI Kuwait ETF (BATS:KWT)’s stock price rose 1.1% during trading on Thursday . The stock traded as high as $33.18 and last traded at $33.10. Approximately 9,978 shares changed hands during trading, The stock had previously closed at $32.73.

iShares MSCI Kuwait ETF Stock Performance

The company has a market capitalization of $78.00 million, a P/E ratio of 18.16 and a beta of 0.43. The firm’s fifty day moving average is $32.51 and its 200 day moving average is $32.28.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in iShares MSCI Kuwait ETF by 5.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 70,532 shares of the company’s stock valued at $2,258,000 after acquiring an additional 3,350 shares during the period. Bank of Montreal Can increased its stake in iShares MSCI Kuwait ETF by 8.8% in the third 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. Finally, Flow Traders U.S. LLC bought a new stake in shares of iShares MSCI Kuwait ETF during the third quarter worth $455,000.

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.