Boston, MA, 07/15/2013 (nysepost) – In the Friday’s trading session, shares of iShares MSCI Emerging Markets Indx (ETF) (NYSEARCA:EEM) closed at $38.94 after falling by 1.14%. The stock opened at $38.89 and reached a high of $39.01. Over 15.82 million shares were traded in the trading session of July 12.
Previously known as iShares MSCI Emerging Markets Index Fund (the Fund), iShares MSCI Emerging Markets Indx (ETF) (NYSEARCA:EEM) tracks the yield and price performance of publicly traded equity securities in markets that are globally emerging, as measured by the MSCI Emerging Markets Index (the Index). The investment by the fund is made in a securities’ representative sample that is contained in the Index, which jointly has a profile on investment parallel to the Index. The Fund may invest in securities of non-United States issuers that trade in non-United States markets. The advisor to the fund is BlackRock Fund Advisors (BFA).
For a long time, investors worried about the possible impacts of the pull back of the easy money policies by the Fed. Such worries sent the price of the United States Treasuries lower and the yields lower. There was surge in the dollar, slid in the prices of gold and sharp sell off of the stocks of emerging markets. US stocks also fell down from their high points, even though this was a record territory in May. On Wednesday, a change in the outlook resulted when the Federal Reserve Chairman, Ben Bernanke, mitigated worries by stating that the highly accommodative policy of the Fed was required for the projected future. Suddenly, a change in the direction of the markets was noticed.
The latest uptrend pertaining to Treasury yields, commenced in early May. This was prior to the statement by officials of the Fed regarding the possibility that less stimulus was possible, in the structure of declining asset purchases.