iShares MSCI Brazil ETF (NYSEARCA:EWZ – Get Free Report) saw unusually-high trading volume on Tuesday. Approximately 34,793,731 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 32,875,781 shares. The stock last traded at $34.3710 and had previously closed at $34.15.
iShares MSCI Brazil ETF News Roundup
Here are the key news stories impacting iShares MSCI Brazil ETF this week:
- Neutral Sentiment: EWZ’s move below its 200-day moving average signals deteriorating technical momentum and could encourage additional selling, although the indicator does not by itself determine the ETF’s long-term direction. iShares MSCI Brazil ETF Stock Cross Below 200 Day Moving Average
- Negative Sentiment: The election result sparked a broad selloff in Brazilian stocks and the currency because markets had anticipated a shift toward fiscal austerity, deregulation and more orthodox economic policies under Bolsonaro. Investors are now concerned about greater government intervention, weaker fiscal discipline and renewed political uncertainty during Lula’s fourth term. Brazilian Stocks Sink After Surprising Presidential Election Result
- Negative Sentiment: Reports described an unusually severe decline across Brazil-focused ETFs, with EWZ among the largest decliners in premarket trading. The shock reflects the sharp reversal in positioning after prediction markets had favored Bolsonaro and investors were caught off guard by Lula’s victory. Brazil ETFs Crash More Than 20% After Lula Win
- Negative Sentiment: Petrobras and other major Brazilian holdings led the retreat, increasing pressure on EWZ because the ETF is concentrated in large Brazilian companies and is exposed to the country’s currency and political risk. Brazil’s Stock Market Crashes After Lula’s Upset Victory
iShares MSCI Brazil ETF Trading Up 1.1%
The company’s 50 day moving average is $38.46 and its 200 day moving average is $37.13. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 9.58 and a beta of 0.57.
Hedge Funds Weigh In On iShares MSCI Brazil ETF
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia raised its stake in iShares MSCI Brazil ETF by 10,490.4% during the 1st quarter. Bank of Nova Scotia now owns 5,507,028 shares of the exchange traded fund’s stock valued at $211,416,000 after acquiring an additional 5,455,028 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of iShares MSCI Brazil ETF by 12,304.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,119,561 shares of the exchange traded fund’s stock valued at $119,760,000 after purchasing an additional 3,094,413 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of iShares MSCI Brazil ETF in the 1st quarter valued at approximately $108,733,000. Temasek Holdings Private Ltd acquired a new position in shares of iShares MSCI Brazil ETF in the first quarter valued at approximately $41,339,000. Finally, Randolph Co Inc acquired a new position in shares of iShares MSCI Brazil ETF in the first quarter valued at approximately $33,390,000. Hedge funds and other institutional investors own 72.69% of the company’s stock.
About iShares MSCI Brazil ETF
iShares MSCI Brazil Capped Index Fund (the Fund), formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The Index seeks to measure the performance of the Brazilian equity market. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.
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