Investment manager Trium Capital LLP has significantly reduced its position in the iShares MSCI Brazil ETF (NYSEARCA:EWZ), selling nearly half of its shares during the third quarter of 2023. According to data from HoldingsChannel.com, the fund decreased its holdings by 49.9%, ending the quarter with 487,829 shares after offloading 485,382 shares. This adjustment positions the ETF as the 7th largest holding within Trium Capital’s portfolio, valued at approximately $15,123,000.
Several other institutional investors have also adjusted their stakes in the iShares MSCI Brazil ETF. For instance, Raymond James Financial Inc. increased its position by 36.4% during the first quarter, now owning 258,024 shares worth $6,670,000 after acquiring an additional 68,921 shares. Meanwhile, Northwestern Mutual Wealth Management Co. entered a new position valued at $1,043,000, and Comerica Bank ramped up its holdings by 68.9%, acquiring 8,248 shares for a total value of $213,000.
The ETF has attracted additional interest from other investors, including Caisse DE Depot ET Placement DU Quebec and MYDA Advisors LLC, both of which established new stakes in the fund during the first quarter, valued at $4,490,000 and $1,034,000, respectively. Overall, hedge funds and institutional investors collectively hold 72.69% of the iShares MSCI Brazil ETF.
Current Performance and Market Position
As of the latest trading session, shares of the iShares MSCI Brazil ETF opened at $31.55. The ETF has displayed a 50-day simple moving average of $32.11 and a two-hundred day simple moving average of $29.87. Over the past year, the ETF has seen a low of $22.26 and a high of $34.80. The fund currently boasts a market capitalization of $6.10 billion, a price-to-earnings ratio of 9.58, and a beta of 0.87.
The iShares MSCI Brazil ETF is designed to track the performance of the Brazilian equity market through the MSCI Brazil Index. This index aims to reflect the price and yield performance of publicly traded securities in Brazil, capturing approximately 85% of the total market capitalization available to the public.
As institutional interest shifts, it remains crucial for investors to monitor these changes closely, as they can significantly impact market dynamics for the iShares MSCI Brazil ETF and its overall performance in the investment landscape.
