Summit Financial Consulting LLC reduced its position in shares of iShares MSCI Emerging Markets ETF (NYSEARCA:EEM – Free Report) by 54.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,360 shares of the exchange traded fund’s stock after selling 63,893 shares during the quarter. iShares MSCI Emerging Markets ETF accounts for approximately 2.7% of Summit Financial Consulting LLC’s holdings, making the stock its 10th biggest position. Summit Financial Consulting LLC’s holdings in iShares MSCI Emerging Markets ETF were worth $3,631,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in EEM. Merkkuri Wealth Advisors LLC purchased a new position in shares of iShares MSCI Emerging Markets ETF in the first quarter worth approximately $27,000. MidFirst Bank bought a new stake in iShares MSCI Emerging Markets ETF during the fourth quarter valued at approximately $31,000. SHP Wealth Management bought a new stake in iShares MSCI Emerging Markets ETF during the fourth quarter valued at approximately $35,000. CrossGen Wealth LLC purchased a new stake in iShares MSCI Emerging Markets ETF during the first quarter valued at approximately $35,000. Finally, Manning & Napier Advisors LLC increased its holdings in iShares MSCI Emerging Markets ETF by 491.4% during the first quarter. Manning & Napier Advisors LLC now owns 621 shares of the exchange traded fund’s stock valued at $35,000 after buying an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 81.39% of the company’s stock.
iShares MSCI Emerging Markets ETF Trading Down 0.7%
Shares of EEM stock opened at $63.96 on Friday. iShares MSCI Emerging Markets ETF has a 12 month low of $52.38 and a 12 month high of $71.57. The stock has a market cap of $29.65 billion, a P/E ratio of 14.46 and a beta of 0.74. The company has a 50 day simple moving average of $66.95 and a two-hundred day simple moving average of $65.67.
iShares MSCI Emerging Markets ETF Company Profile
iShares MSCI Emerging Markets ETF, formerly iShares MSCI Emerging Markets Index Fund (the Fund), seeks investment results that correspond generally to the price and yield performance of publicly traded equity securities in global emerging markets, as measured by the MSCI Emerging Markets Index (the Index). The Index is designed to measure equity market performance in the global emerging markets. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.
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