iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sets New 12-Month High – What’s Next?

Shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $96.43 and last traded at $96.27, with a volume of 9509 shares changing hands. The stock had previously closed at $95.52.

iShares U.S. Financial Services ETF Stock Up 0.6%

The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 18.95 and a beta of 0.96. The business has a fifty day simple moving average of $91.52 and a two-hundred day simple moving average of $88.50.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

A number of hedge funds have recently added to or reduced their stakes in IYG. RiverFront Investment Group LLC grew its position in shares of iShares U.S. Financial Services ETF by 0.7% during the 4th quarter. RiverFront Investment Group LLC now owns 1,449,021 shares of the company’s stock worth $133,672,000 after buying an additional 10,089 shares during the period. Morgan Stanley lifted its stake in shares of iShares U.S. Financial Services ETF by 0.4% in the 4th quarter. Morgan Stanley now owns 1,079,849 shares of the company’s stock valued at $99,616,000 after purchasing an additional 4,054 shares during the period. JPMorgan Chase & Co. boosted its position in shares of iShares U.S. Financial Services ETF by 234.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock worth $95,176,000 after purchasing an additional 723,555 shares during the last quarter. OpenArc Corporate Advisory LLC acquired a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth $55,635,000. Finally, Dynasty Wealth Management LLC bought a new stake in iShares U.S. Financial Services ETF in the fourth quarter valued at about $49,084,000.

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.