iShares MSCI Taiwan ETF (NYSEARCA:EWT) Shares Gap Up – Should You Buy?

Shares of iShares MSCI Taiwan ETF (NYSEARCA:EWT) gapped up prior to trading on Friday . The stock had previously closed at $47.82, but opened at $51.20. iShares MSCI Taiwan ETF shares last traded at $50.79, with a volume of 1,802,918 shares changing hands.

iShares MSCI Taiwan ETF Trading Up 6.5 %

The company has a fifty day moving average of $47.78 and a two-hundred day moving average of $51.43. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 14.95 and a beta of 0.92.

Institutional Investors Weigh In On iShares MSCI Taiwan ETF

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. increased its position in iShares MSCI Taiwan ETF by 5.4% during the third quarter. Franklin Resources Inc. now owns 131,887 shares of the exchange traded fund’s stock worth $7,303,000 after acquiring an additional 6,747 shares during the period. Principal Financial Group Inc. grew its position in iShares MSCI Taiwan ETF by 163.7% in the 3rd quarter. Principal Financial Group Inc. now owns 271,168 shares of the exchange traded fund’s stock worth $14,608,000 after purchasing an additional 168,341 shares during the last quarter. Boltwood Capital Management increased its holdings in shares of iShares MSCI Taiwan ETF by 4.1% during the 4th quarter. Boltwood Capital Management now owns 7,050 shares of the exchange traded fund’s stock worth $365,000 after purchasing an additional 275 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of iShares MSCI Taiwan ETF during the fourth quarter valued at about $419,000. Finally, Merit Financial Group LLC acquired a new position in shares of iShares MSCI Taiwan ETF during the fourth quarter valued at about $219,000.

iShares MSCI Taiwan ETF Company Profile

Ishares MSCI Taiwan Index Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Taiwan IndexSM (the Index). The Index consists of stocks traded primarily on the Taiwan Stock Exchange.