Short Interest in iShares MSCI UAE ETF (NASDAQ:UAE) Drops By 15.9%

iShares MSCI UAE ETF (NASDAQ:UAE) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 134,500 shares, a decrease of 15.9% from the November 15th total of 160,000 shares. Based on an average trading volume of 56,300 shares, the days-to-cover ratio is presently 2.4 days.

Hedge Funds Weigh In On iShares MSCI UAE ETF

Several hedge funds have recently added to or reduced their stakes in UAE. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in iShares MSCI UAE ETF by 13.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 256,688 shares of the company’s stock worth $3,899,000 after purchasing an additional 30,851 shares during the period. Rhumbline Advisers lifted its holdings in iShares MSCI UAE ETF by 1.1% during the second quarter. Rhumbline Advisers now owns 278,073 shares of the company’s stock worth $3,824,000 after acquiring an additional 2,901 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in iShares MSCI UAE ETF in the second quarter valued at about $385,000.

iShares MSCI UAE ETF Stock Up 7.5 %

UAE stock opened at $16.65 on Tuesday. iShares MSCI UAE ETF has a twelve month low of $13.24 and a twelve month high of $16.69. The company has a market cap of $49.12 million, a P/E ratio of 8.94 and a beta of 0.64. The business’s fifty day moving average is $15.21 and its 200-day moving average is $14.68.

About iShares MSCI UAE ETF

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.