iShares MSCI China ETF (NASDAQ:MCHI) Trading Down 8.9% – Here’s What Happened

iShares MSCI China ETF (NASDAQ:MCHI)’s stock price were down 8.9% during mid-day trading on Monday . The company traded as low as $45.98 and last traded at $45.57. Approximately 5,216,130 shares were traded during trading, an increase of 41% from the average daily volume of 3,703,142 shares. The stock had previously closed at $50.00.

iShares MSCI China ETF Trading Down 8.0 %

The business has a fifty day moving average of $53.45 and a 200-day moving average of $50.19. The company has a market cap of $5.32 billion, a PE ratio of 13.16 and a beta of 0.49.

Hedge Funds Weigh In On iShares MSCI China ETF

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in iShares MSCI China ETF by 6,784.5% in the first quarter. GAMMA Investing LLC now owns 8,528,995 shares of the company’s stock valued at $463,977,000 after acquiring an additional 8,405,108 shares in the last quarter. Stonehearth Capital Management LLC purchased a new stake in shares of iShares MSCI China ETF in the 1st quarter worth about $6,146,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of iShares MSCI China ETF by 13.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,401 shares of the company’s stock worth $347,000 after purchasing an additional 906 shares during the period. Yoffe Investment Management LLC bought a new stake in shares of iShares MSCI China ETF during the 4th quarter valued at about $241,000. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of iShares MSCI China ETF during the fourth quarter valued at about $262,000.

About iShares MSCI China ETF

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.