iShares U.S. Energy ETF (NYSEARCA:IYE) Sets New 1-Year High – Should You Buy?

iShares U.S. Energy ETF (NYSEARCA:IYE)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $54.74 and last traded at $54.6390, with a volume of 3489560 shares changing hands. The stock had previously closed at $52.98.

iShares U.S. Energy ETF Price Performance

The firm has a market capitalization of $1.31 billion, a PE ratio of 15.53 and a beta of 0.78. The firm has a 50-day simple moving average of $49.11 and a 200-day simple moving average of $47.60.

Hedge Funds Weigh In On iShares U.S. Energy ETF

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in shares of iShares U.S. Energy ETF by 936.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 217,548 shares of the company’s stock valued at $9,838,000 after buying an additional 196,559 shares in the last quarter. Banco Santander S.A. bought a new stake in iShares U.S. Energy ETF during the second quarter valued at about $8,796,000. Thrivent Financial for Lutherans lifted its position in shares of iShares U.S. Energy ETF by 126.1% in the second quarter. Thrivent Financial for Lutherans now owns 123,388 shares of the company’s stock valued at $5,580,000 after acquiring an additional 68,819 shares in the last quarter. Forte Asset Management LLC bought a new position in shares of iShares U.S. Energy ETF in the second quarter worth about $2,826,000. Finally, Wealthstar Advisors LLC purchased a new stake in shares of iShares U.S. Energy ETF during the fourth quarter worth about $2,543,000. 52.46% of the stock is currently owned by institutional investors.

About iShares U.S. Energy ETF

iShares U.S. Energy ETF (the Fund), formerly iShares Dow Jones U.S. Energy Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Oil & Gas Index (the Index). The Index measures the performance of the oil and gas sector of the United States equity market, and includes companies in industry groups, such as oil and gas producers, and oil equipment, services and distribution. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.