iShares MSCI China ETF (NASDAQ:MCHI) Shares Gap Up – Here’s Why

iShares MSCI China ETF (NASDAQ:MCHI)’s share price gapped up prior to trading on Monday . The stock had previously closed at $47.81, but opened at $51.08. iShares MSCI China ETF shares last traded at $51.84, with a volume of 4,413,068 shares changing hands.

iShares MSCI China ETF Price Performance

The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 10.76 and a beta of 0.49. The firm has a 50-day moving average price of $49.77 and a two-hundred day moving average price of $45.30.

Hedge Funds Weigh In On iShares MSCI China ETF

A number of large investors have recently bought and sold shares of the company. Meitav Investment House Ltd. lifted its position in shares of iShares MSCI China ETF by 1.7% in the third quarter. Meitav Investment House Ltd. now owns 2,910,106 shares of the company’s stock worth $142,225,000 after purchasing an additional 48,240 shares in the last quarter. Elo Mutual Pension Insurance Co increased its stake in iShares MSCI China ETF by 30.4% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 1,082,669 shares of the company’s stock valued at $45,656,000 after buying an additional 252,156 shares during the last quarter. TT International Asset Management LTD acquired a new stake in iShares MSCI China ETF in the 3rd quarter valued at $35,807,000. Angeles Investment Advisors LLC boosted its stake in shares of iShares MSCI China ETF by 104.7% during the 3rd quarter. Angeles Investment Advisors LLC now owns 604,000 shares of the company’s stock worth $30,750,000 after buying an additional 309,000 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of iShares MSCI China ETF by 4.3% in the 3rd quarter. Penserra Capital Management LLC now owns 356,253 shares of the company’s stock valued at $18,136,000 after acquiring an additional 14,546 shares in the last quarter.

About iShares MSCI China ETF

iShares MSCI China ETF, formerly iShares MSCI China Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond to the price and yield performance, of the MSCI China Index (the Underlying Index). The Fund is designed to measure the performance of the top 85% of equity securities by market capitalization in the Chinese equity markets.