iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sets New 12-Month High – Should You Buy?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $65.63 and last traded at $65.51, with a volume of 14360 shares trading hands. The stock had previously closed at $65.15.

iShares U.S. Regional Banks ETF Trading Up 0.6%

The company has a market cap of $696.63 million, a price-to-earnings ratio of 12.39 and a beta of 0.88. The stock’s 50-day moving average is $62.75 and its 200-day moving average is $58.95.

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

Several institutional investors have recently made changes to their positions in IAT. Bank of America Corp DE boosted its position in shares of 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. Wells Fargo & Company MN grew its stake in shares of iShares U.S. Regional Banks ETF by 3.6% in the 4th quarter. Wells Fargo & Company MN now owns 481,700 shares of the company’s stock valued at $26,566,000 after buying an additional 16,723 shares during the period. Two Sigma Investments LP increased its position in iShares U.S. Regional Banks ETF by 154.3% in the 3rd quarter. Two Sigma Investments LP now owns 193,000 shares of the company’s stock valued at $10,138,000 after buying an additional 117,100 shares in the last quarter. Lido Advisors LLC bought a new stake in iShares U.S. Regional Banks ETF in the 1st quarter valued at about $10,280,000. Finally, Goldman Sachs Group Inc. raised its stake in iShares U.S. Regional Banks ETF by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,762 shares of the company’s stock worth $8,895,000 after buying an additional 19,870 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.