ISHARES INC

Ticker: EWK CUSIP: 464286301 Class: MSCI BELGIUM ETF

Arrow Investment Advisors, LLC's Holding History (CIK: 0001378410)

Note: Option positions (PUT/CALL) are excluded.

Q1 2018
Shares 21,588 Value ($000) $461 Avg Close — Range —
Q4 2017
Shares 14,450 Value ($000) $304 Avg Close — Range —
Q2 2016
Shares 221,926 Value ($000) $3,930 Avg Close — Range —
Q1 2016
Shares 237,431 Value ($000) $4,193 Avg Close — Range —
Q4 2015
Shares 399,161 Value ($000) $7,209 Avg Close — Range —
Q3 2015
Shares 446,722 Value ($000) $7,358 Avg Close — Range —
Q2 2015
Shares 529,240 Value ($000) $9,193 Avg Close — Range —
Q1 2015
Shares 450,145 Value ($000) $7,603 Avg Close — Range —
Q2 2014
Shares 793,849 Value ($000) $13,650 Avg Close — Range —
Q1 2014
Shares 601,949 Value ($000) $10,450 Avg Close — Range —
Q4 2013
Shares 608,349 Value ($000) $9,971 Avg Close — Range —
Q3 2013
Shares 619,899 Value ($000) $9,540 Avg Close — Range —
Q2 2013
Shares 629,199 Value ($000) $8,570 Avg Close — Range —