Scotia Capital Reduces Holdings in iShares MSCI Emerging Markets ETF

Scotia Capital Inc. has reduced its stake in the iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) by 11.5% during the second quarter of 2023, as disclosed in its latest Form 13F filing with the Securities and Exchange Commission (SEC). Following this adjustment, the firm now owns 68,780 shares of the exchange-traded fund, having sold 8,980 shares during the quarter. As of the end of this reporting period, Scotia Capital’s holdings in the ETF were valued at approximately $3.3 million.

Several other institutional investors have also made notable changes to their positions in the iShares MSCI Emerging Markets ETF. For instance, Tompkins Financial Corp established a new position valued at around $26,000. Similarly, Maseco LLP acquired shares worth about $27,000, while Hemington Wealth Management and Traub Capital Management LLC each purchased new stakes valued at approximately $34,000. Lastly, Gladwyn Financial Advisors Inc. acquired a position worth about $35,000. Overall, 81.39% of the ETF’s stock is owned by institutional investors and hedge funds.

Current Market Performance

As of Monday, the iShares MSCI Emerging Markets ETF opened at $54.32. The ETF currently has a market capitalization of approximately $20.66 billion, a price-to-earnings ratio of 14.46, and a beta of 0.64. Over the past year, the ETF has experienced a low of $38.19 and a high of $56.31. The ETF’s 50-day simple moving average stands at $54.26, while the 200-day simple moving average is at $50.69.

About the iShares MSCI Emerging Markets ETF

The iShares MSCI Emerging Markets ETF, previously known as the iShares MSCI Emerging Markets Index Fund, aims to reflect the price and yield performance of publicly traded equity securities in global emerging markets. This performance is measured against the MSCI Emerging Markets Index, which serves as a benchmark for assessing the investment results.

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