CUMBERLAND ADVISORS INC

Holdings History for ISHARES MSCI SPAIN ETF - Common Stock (EWP)

Symbol: EWP
Investment type: Equity / Common Stock

Shares, Excluding Options vs Price

Value, Excluding Options

Holdings date	Weight	Change	Value $	Shares	Change	Activity %	Price	All Holders
30 Sep 2014		-1.5%	$0	0	-55,380	-100%	$56.87	Q3 2014
30 Jun 2014	1.5%	-0.1%	$2,371,000	55,380	-3,730	-6.3%	$42.81	Q2 2014
31 Mar 2014	1.4%	+1.4%	$2,412,000	59,110	+59,110	NEW	$40.81	Q1 2014

* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.