iShares MSCI China ETF (NASDAQ:MCHI) Shares Gap Up – Still a Buy?

iShares MSCI China ETF (NASDAQ:MCHI) shares 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 Stock Performance

The firm has a fifty day simple moving average of $49.83 and a 200-day simple moving average of $45.22. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 10.76 and a beta of 0.49.

Institutional Trading of iShares MSCI China ETF

A number of hedge funds have recently modified their holdings of the stock. Meitav Investment House Ltd. raised its holdings in iShares MSCI China ETF by 1.7% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,910,106 shares of the company’s stock valued at $142,225,000 after acquiring an additional 48,240 shares during the period. Elo Mutual Pension Insurance Co increased its stake in shares of iShares MSCI China ETF by 30.4% during the second quarter. Elo Mutual Pension Insurance Co now owns 1,082,669 shares of the company’s stock worth $45,656,000 after purchasing an additional 252,156 shares during the period. TT International Asset Management LTD acquired a new stake in iShares MSCI China ETF during the 3rd quarter worth approximately $35,807,000. Angeles Investment Advisors LLC boosted its stake in iShares MSCI China ETF by 104.7% in the 3rd quarter. Angeles Investment Advisors LLC now owns 604,000 shares of the company’s stock valued at $30,750,000 after purchasing an additional 309,000 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in 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 buying 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.