Baker Avenue Asset Management Secures New Stake in iShares Latin America 40 ETF

In a strategic investment move, Baker Avenue Asset Management LP has initiated a new position in the iShares Latin America 40 ETF (NYSEARCA:ILF), as disclosed in its latest Form 13F filing with the Securities and Exchange Commission. This purchase, made during the third quarter, injected the firm with 2,100 shares of ILF, amounting to a market value of approximately $54,000.

Investment Actions by Major Players

The investment landscape surrounding the iShares Latin America 40 ETF has seen various significant shifts with multiple prominent investors adjusting their stakes. Hsbc Holdings PLC made a sizeable increase to their holdings by 82.2%, bringing their total share count to 336,711, valued at over $8.6 million. Following suit, Forefront Wealth Management Inc. acquired new shares worth roughly $1,048,000 during the same quarter.

Continuing this trend, Altfest L J & Co. Inc. enhanced its investment by a modest 0.8%, now possessing 84,881 shares with a market value of approximately $2.3 million. UBS Group AG also bumped up their holdings by 3.8%, controlling 605,656 shares of ILF, which approximates to a valuation of $15.48 million. Massmutual Trust Co. FSB ADV reported a 14.5% uptick in their stake, amounting to a holding of 49,239 shares, marking it at close to $1.26 million.

ILF's Market Performance

The stock for iShares Latin America 40 ETF commenced trading at $27.69 on a recent Friday. The ETF presents a substantial market capitalization of $1.46 billion, a price-to-earnings ratio sitting at 6.90, and a beta of 1.00. Investors have been monitoring its performance, noted by its fifty day simple moving average of $28.18 and a more protracted 200-day average at $27.16. The ETF's annual trading range has fluctuated between a low of $22.14 and a peak at $29.83.

Understanding iShares Latin America 40 ETF

The iShares Latin America 40 ETF, once known as the iShares S & P Latin America 40 Index Fund, aims to mirror the performance of the S&P Latin America 40 Index. This involves tracking the index which is composed of select equities spread out across the stock exchanges of five key Latin American countries. Investors interested in the region's prospects consider this ETF a viable gateway for investment exposure to Latin America's markets.

Those curious about other hedge fund positions in ILF can access up-to-date filings and insider trades via specialized finance websites. Additionally, investment news and ratings for iShares Latin America 40 ETF are readily available for those who wish to stay informed about the latest market developments.

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