Comerica Bank Allocates Over $5 Million to iShares MSCI UK ETF

Comerica Bank has stepped into shares of the iShares MSCI United Kingdom ETF (NYSEARCA:EWU), seizing a new stake during the third quarter. The bank's latest disclosure to the Securities and Exchange Commission reveals the purchase of 163,739 shares, cumulatively worth roughly $5.18 million. This transaction grants Comerica Bank a 0.19% ownership in the ETF.

Other Investors Adjust EWU Positions

Beyond Comerica Bank, various hedge funds have adjusted their stakes in EWU. For instance, Steward Partners Investment Advisory LLC nearly doubled its EWU shares in the first quarter, climbing by 91.9% to hold 971 shares. Tower Research Capital LLC TRC and Cornerstone Planning Group LLC each initiated new positions in the second quarter, investing approximately $51,000 and $53,000, respectively. Meanwhile, US Bancorp DE increased its share count by 39.3% to 1,671, and Global Retirement Partners LLC upped its stake by 50.0% to own 2,223 EWU shares in the third quarter.

Performance of iShares MSCI United Kingdom ETF

Trading commenced on Monday with EWU shares at $33.42. The ETF's average price over the past fifty days is $32.66, slightly below the 200-day moving average of $32.22. EWU’s 1-year trading spectrum has seen a low of $30.14 and a peak of $34.04, illustrating a moderate level of volatility. With a market capitalization standing at $2.88 billion, the ETF has a price-to-earnings ratio of 13.02 and a beta of 0.83, signaling modest sensitivity to market movements.

Understanding iShares MSCI United Kingdom ETF

The iShares MSCI United Kingdom ETF provides investors with exposure to a market cap-weighted collection of prime British companies, embodying the top 85% of the UK market by capitalization. Since its launch on March 12, 1996, BlackRock has been at the helm of managing the fund, providing an instrumental investment vehicle for those interested in the British market.

Comerica, Investment, EWU