iShares U.S. Financial Services ETF (NYSEARCA:IYG) Hits New 12-Month High – Still a Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $98.40 and last traded at $98.06, with a volume of 23480 shares. The stock had previously closed at $97.47.

iShares U.S. Financial Services ETF Price Performance

The stock has a market cap of $2.23 billion, a P/E ratio of 18.95 and a beta of 0.96. The company has a fifty day moving average of $94.88 and a 200 day moving average of $89.35.

Institutional Trading of iShares U.S. Financial Services ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of iShares U.S. Financial Services ETF by 234.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock valued at $95,176,000 after buying an additional 723,555 shares during the period. OpenArc Corporate Advisory LLC acquired a new position in iShares U.S. Financial Services ETF during the fourth quarter worth about $55,635,000. Dynasty Wealth Management LLC acquired a new position in iShares U.S. Financial Services ETF during the fourth quarter worth about $49,084,000. Ameriprise Financial Inc. raised its position in iShares U.S. Financial Services ETF by 79.4% in the third quarter. Ameriprise Financial Inc. now owns 188,153 shares of the company’s stock worth $16,853,000 after acquiring an additional 83,297 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in iShares U.S. Financial Services ETF by 279.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 111,441 shares of the company’s stock worth $10,280,000 after acquiring an additional 82,102 shares in the last quarter.

iShares U.S. Financial Services ETF Company Profile

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.