iShares U.S. Financial Services ETF (NYSEARCA:IYG) Reaches New 12-Month High – Should You Buy?

Shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) reached a new 52-week high on Wednesday . The company traded as high as $95.94 and last traded at $95.86, with a volume of 17985 shares. The stock had previously closed at $94.60.

iShares U.S. Financial Services ETF Stock Performance

The firm has a market capitalization of $2.09 billion, a P/E ratio of 18.95 and a beta of 0.96. The business has a fifty day moving average of $89.42 and a 200-day moving average of $88.40.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

Several hedge funds have recently made changes to their positions in IYG. Triumph Capital Management purchased a new position in iShares U.S. Financial Services ETF during the 3rd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth approximately $28,000. Farther Finance Advisors LLC acquired a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth approximately $29,000. Capital Advisors Ltd. LLC grew its position in iShares U.S. Financial Services ETF by 49.8% during the first quarter. Capital Advisors Ltd. LLC now owns 379 shares of the company’s stock valued at $31,000 after purchasing an additional 126 shares in the last quarter. Finally, Merrithew & Thorsten Inc purchased a new position in iShares U.S. Financial Services ETF during the fourth quarter valued at approximately $39,000.

About iShares U.S. Financial Services ETF

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.