Dallas, Texas 07/30/2013 (Financialstrend) – The exchange traded fund of IShares MSCI Japan Index (ETF) (NYSEARCA:EWJ) which had been designed to track the yield and performance of the Japanese market through the MSCI Japan Index had recently been gaining effectively to reach new peaks in the past few trading sessions. The exchange traded fund had been trading above the 50 day moving average of the prices and had been moving on to touch the level of $12.00 per unit as expected by the analysts. It was earlier commented by analysts that there would be some decline in the unit prices when the $12 mark is touched and as reported the ETF had declined on Monday to lower levels.
Further, the analysts had also suggested that the present economic conditions in Japan suggest trading in the individual stocks with relatively higher strength than to choose the ETF based on the broader Japanese market index. The fund basically tracks the stocks which are traded as part of the index in the Tokyo Stock Exchange and is managed by the investment advisory services of the BlackRock Fund Advisors (BFA).
IShares MSCI Japan Index (ETF) (NYSEARCA:EWJ) had moved on to close at $11.13 per share on Monday, which was measured to be an decrease of 2.20% over the previous closing price of the stock. The company had been moving between the range of $11.10 as low intraday price and $11.20 as high intraday price. The 52 week low for the stock is at $8.75 per share and 52 week high is at $12.43 per share. With 1.03 million shares in the market, there is 30% of institutional ownership and $11.42 billion of market cap value for the stock. The company had presented a trading volume of 8.05 million shares on Monday.