iShares Europe ETF (NYSEARCA:IEV) Hits New 52-Week High – Here’s Why

iShares Europe ETF (NYSEARCA:IEV)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $59.30 and last traded at $59.16, with a volume of 128304 shares trading hands. The stock had previously closed at $58.02.

iShares Europe ETF Price Performance

The stock’s fifty day simple moving average is $55.10 and its 200-day simple moving average is $55.48. The firm has a market cap of $1.80 billion, a PE ratio of 18.22 and a beta of 0.93.

Hedge Funds Weigh In On iShares Europe ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IEV. International Assets Investment Management LLC increased its holdings in iShares Europe ETF by 5,727.0% in the 3rd quarter. International Assets Investment Management LLC now owns 17,481 shares of the company’s stock worth $1,019,000 after buying an additional 17,181 shares during the period. Avidian Wealth Enterprises LLC boosted its holdings in shares of iShares Europe ETF by 30.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,455 shares of the company’s stock valued at $434,000 after acquiring an additional 1,726 shares during the last quarter. Bridgewater Advisors Inc. purchased a new stake in shares of iShares Europe ETF in the 3rd quarter valued at $727,000. Mayflower Financial Advisors LLC increased its stake in shares of iShares Europe ETF by 30.9% in the third quarter. Mayflower Financial Advisors LLC now owns 24,796 shares of the company’s stock worth $1,445,000 after acquiring an additional 5,856 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in shares of iShares Europe ETF by 2.1% during the third quarter. Apollon Wealth Management LLC now owns 27,193 shares of the company’s stock worth $1,585,000 after purchasing an additional 554 shares during the last quarter.

About iShares Europe ETF

iShares Europe ETF (the Fund), formerly iShares S&P Europe 350 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Europe 350 (the Index). The Index measures the performance of the stocks of companies in the countries, which includes Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.