iShares MSCI China ETF (NASDAQ:MCHI) Shares Gap Up – Should You Buy?

iShares MSCI China ETF (NASDAQ:MCHI) shares gapped up before the market opened on Friday . The stock had previously closed at $48.36, but opened at $50.97. iShares MSCI China ETF shares last traded at $50.47, with a volume of 1,354,797 shares changing hands.

iShares MSCI China ETF Stock Up 4.2 %

The stock has a market cap of $6.34 billion, a PE ratio of 10.76 and a beta of 0.49. The business’s 50-day simple moving average is $45.37 and its 200-day simple moving average is $43.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. bought a new position in shares of iShares MSCI China ETF during the first quarter valued at approximately $45,000. New Republic Capital LLC bought a new position in iShares MSCI China ETF in the 1st quarter worth $124,000. Blue Trust Inc. lifted its position in shares of iShares MSCI China ETF by 137.6% in the 3rd quarter. Blue Trust Inc. now owns 3,272 shares of the company’s stock worth $167,000 after purchasing an additional 1,895 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of iShares MSCI China ETF by 26.0% during the 1st quarter. 1832 Asset Management L.P. now owns 4,551 shares of the company’s stock valued at $181,000 after purchasing an additional 940 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of iShares MSCI China ETF during the third quarter valued at about $221,000.

iShares MSCI China ETF Company Profile

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.