iShares U.S. Financial Services ETF (NYSEARCA:IYG) Reaches New 1-Year High – Time to Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $96.10 and last traded at $96.10, with a volume of 22636 shares changing hands. The stock had previously closed at $95.36.

iShares U.S. Financial Services ETF Stock Performance

The firm has a market capitalization of $2.17 billion, a P/E ratio of 18.95 and a beta of 0.96. The firm has a 50 day moving average price of $90.84 and a two-hundred day moving average price of $88.47.

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

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