Short Interest in iShares MSCI UAE ETF (NASDAQ:UAE) Drops By 44.4%

iShares MSCI UAE ETF (NASDAQ:UAE) was the recipient of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 216,100 shares, a decrease of 44.4% from the May 15th total of 388,400 shares. Based on an average daily volume of 201,300 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.7% of the shares of the stock are sold short.

iShares MSCI UAE ETF Trading Down 1.8%

Shares of iShares MSCI UAE ETF stock opened at $17.56 on Tuesday. The firm has a market capitalization of $101.85 million, a PE ratio of 10.24 and a beta of 0.64. The business’s 50-day moving average price is $17.92 and its 200-day moving average price is $17.14. iShares MSCI UAE ETF has a 12 month low of $13.31 and a 12 month high of $18.92.

iShares MSCI UAE ETF Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 16th will be given a dividend of $0.596 per share. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from iShares MSCI UAE ETF’s previous dividend of $0.02.

Hedge Funds Weigh In On iShares MSCI UAE ETF

Several institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in iShares MSCI UAE ETF during the 1st quarter worth approximately $22,525,000. Moran Wealth Management LLC bought a new position in iShares MSCI UAE ETF during the 1st quarter worth approximately $7,837,000. Jane Street Group LLC grew its position in iShares MSCI UAE ETF by 682.5% during the 1st quarter. Jane Street Group LLC now owns 399,295 shares of the company’s stock worth $6,776,000 after acquiring an additional 348,264 shares during the last quarter. Korea Investment CORP grew its position in iShares MSCI UAE ETF by 173.6% during the 1st quarter. Korea Investment CORP now owns 461,352 shares of the company’s stock worth $7,829,000 after acquiring an additional 292,710 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in iShares MSCI UAE ETF during the 4th quarter worth approximately $3,409,000.

iShares MSCI UAE ETF Company Profile

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.