iShares U.S. Utilities ETF (NYSEARCA:IDU) Sees Strong Trading Volume – Still a Buy?

iShares U.S. Utilities ETF (NYSEARCA:IDU) shares saw unusually-high trading volume on Thursday . Approximately 1,176,894 shares traded hands during trading, an increase of 504% from the previous session’s volume of 194,720 shares.The stock last traded at $115.96 and had previously closed at $113.54.

iShares U.S. Utilities ETF Trading Up 2.4%

The company has a market cap of $1.68 billion, a PE ratio of 21.72 and a beta of 0.66. The company has a fifty day simple moving average of $117.15 and a two-hundred day simple moving average of $113.14.

Institutional Trading of iShares U.S. Utilities ETF

Hedge funds have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL acquired a new position in iShares U.S. Utilities ETF during the 2nd quarter worth approximately $269,000. Qube Research & Technologies Ltd lifted its position in shares of iShares U.S. Utilities ETF by 99.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,146 shares of the company’s stock worth $224,000 after purchasing an additional 1,072 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of iShares U.S. Utilities ETF by 1.2% during the second quarter. NewEdge Advisors LLC now owns 20,855 shares of the company’s stock worth $2,181,000 after purchasing an additional 244 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of iShares U.S. Utilities ETF by 58.2% during the second quarter. Quantinno Capital Management LP now owns 6,455 shares of the company’s stock worth $675,000 after purchasing an additional 2,374 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in iShares U.S. Utilities ETF by 8.6% in the second quarter. Raymond James Financial Inc. now owns 205,135 shares of the company’s stock valued at $21,451,000 after buying an additional 16,173 shares during the last quarter.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.