iShares MSCI Turkey ETF (NASDAQ:TUR) Sees Large Increase in Short Interest

iShares MSCI Turkey ETF (NASDAQ:TUR) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 642,700 shares, a growth of 60.8% from the February 28th total of 399,800 shares. Approximately 11.9% of the company’s stock are short sold. Based on an average trading volume of 195,000 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Investors Weigh In On iShares MSCI Turkey ETF

Hedge funds have recently modified their holdings of the business. Wealthfront Advisers LLC bought a new position in iShares MSCI Turkey ETF in the fourth quarter worth approximately $27,173,000. TT International Asset Management LTD purchased a new position in shares of iShares MSCI Turkey ETF in the 4th quarter valued at $2,658,000. BNP Paribas Financial Markets raised its position in shares of iShares MSCI Turkey ETF by 186.9% in the 4th quarter. BNP Paribas Financial Markets now owns 35,933 shares of the exchange traded fund’s stock worth $1,289,000 after acquiring an additional 23,409 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of iShares MSCI Turkey ETF during the 3rd quarter worth $627,000. Finally, SBI Securities Co. Ltd. bought a new stake in iShares MSCI Turkey ETF during the fourth quarter valued at about $493,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.

iShares MSCI Turkey ETF Price Performance

NASDAQ:TUR opened at $32.67 on Friday. iShares MSCI Turkey ETF has a 1-year low of $30.29 and a 1-year high of $44.41. The company has a 50-day moving average of $35.30 and a 200 day moving average of $35.45. The firm has a market cap of $176.42 million, a PE ratio of 12.14 and a beta of 0.68.

About iShares MSCI Turkey ETF

iShares MSCI Turkey ETF (the Fund), formerly The iShares MSCI Turkey Investable Market Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the MSCI Turkey Investable Market Index (the Underlying Index). The Underlying Index is a free float-adjusted market capitalization index designed to measure equity market performance in Turkey.