iShares U.S. Energy ETF (NYSEARCA:IYE) Reaches New 52-Week High – Here’s Why

Shares of iShares U.S. Energy ETF (NYSEARCA:IYE) hit a new 52-week high during trading on Wednesday . The stock traded as high as $53.08 and last traded at $52.8750, with a volume of 386016 shares trading hands. The stock had previously closed at $52.57.

iShares U.S. Energy ETF Price Performance

The firm’s 50 day moving average price is $48.64 and its 200-day moving average price is $47.40. The stock has a market cap of $1.27 billion, a P/E ratio of 15.53 and a beta of 0.78.

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

A number of hedge funds have recently bought and sold shares of the business. AlphaCore Capital LLC raised its holdings in iShares U.S. Energy ETF by 1,303.5% in the 2nd quarter. AlphaCore Capital LLC now owns 3,635 shares of the company’s stock worth $164,000 after purchasing an additional 3,376 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in iShares U.S. Energy ETF by 5.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,906 shares of the company’s stock worth $1,109,000 after acquiring an additional 1,242 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in iShares U.S. Energy ETF by 242.3% during the second quarter. Corient Private Wealth LLC now owns 68,249 shares of the company’s stock valued at $3,086,000 after purchasing an additional 48,308 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of iShares U.S. Energy ETF by 110.0% in the second quarter. Farther Finance Advisors LLC now owns 5,294 shares of the company’s stock worth $239,000 after purchasing an additional 2,773 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC purchased a new stake in shares of iShares U.S. Energy ETF in the second quarter worth $498,000. Hedge funds and other institutional investors own 52.46% of the company’s stock.

iShares U.S. Energy ETF Company Profile

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.