iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Hits New 52-Week High – Here’s Why

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.65 and last traded at $58.47, with a volume of 38978 shares traded. The stock had previously closed at $56.84.

iShares U.S. Regional Banks ETF Stock Up 3.1%

The company has a 50-day moving average of $54.46 and a 200-day moving average of $52.56. The company has a market cap of $618.12 million, a PE ratio of 12.39 and a beta of 0.96.

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

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in shares of iShares U.S. Regional Banks ETF in the second quarter worth about $25,000. AlphaCore Capital LLC boosted its holdings in iShares U.S. Regional Banks ETF by 103.1% in the 2nd quarter. AlphaCore Capital LLC now owns 591 shares of the company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Register Financial Advisors LLC purchased a new position in shares of iShares U.S. Regional Banks ETF during the 4th quarter valued at $39,000. Kilter Group LLC bought a new position in shares of iShares U.S. Regional Banks ETF in the second quarter worth $41,000. Finally, Allworth Financial LP boosted its stake in iShares U.S. Regional Banks ETF by 559.6% during the second quarter. Allworth Financial LP now owns 1,095 shares of the company’s stock valued at $54,000 after buying an additional 929 shares during the period.

About iShares U.S. Regional Banks ETF

The iShares U.S. Regional Banks ETF (IAT) is an exchange-traded fund that is based on the DJ US Select \u002F Regional Banks index. The fund tracks the performance of an index of small- and mid-cap regional banks. IAT was launched on May 1, 2006 and is managed by BlackRock.