iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sees Strong Trading Volume – Here’s Why

Shares of iShares U.S. Regional Banks ETF (NYSEARCA:IAT) saw strong trading volume on Tuesday. 218,324 shares changed hands during mid-day trading, a decline of 7% from the previous session’s volume of 233,853 shares. The stock last traded at $57.9720 and had previously closed at $57.09.

iShares U.S. Regional Banks ETF Price Performance

The business’s fifty day moving average price is $60.45 and its 200-day moving average price is $60.06. The stock has a market capitalization of $625.12 million, a price-to-earnings ratio of 12.39 and a beta of 0.92.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

Large investors have recently added to or reduced their stakes in the business. Lido Advisors LLC acquired a new position in iShares U.S. Regional Banks ETF during the 1st quarter valued at about $10,280,000. Bank of America Corp DE increased its holdings in iShares U.S. Regional Banks ETF by 23.0% during the 1st quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock worth $28,060,000 after purchasing an additional 97,510 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of iShares U.S. Regional Banks ETF by 142.4% in the first quarter. Renaissance Technologies LLC now owns 22,300 shares of the company’s stock worth $1,201,000 after purchasing an additional 13,100 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of iShares U.S. Regional Banks ETF in the first quarter worth approximately $524,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in shares of iShares U.S. Regional Banks ETF in the second quarter worth approximately $524,000.

About iShares U.S. Regional Banks ETF

The iShares U.S. Regional Banks ETF (IAT) seeks to track the investment results of the Dow Jones U.S. Select Regional Banks Index. The fund provides targeted exposure to small- and mid-sized U.S. banks. The index uses a float-adjusted market-capitalization weighting methodology, meaning larger holdings have a greater influence on performance. Launched on May 1, 2006, the fund is managed by BlackRock Fund Advisors.