iShares U.S. Telecommunications ETF (BATS:IYZ) Hits New 52-Week High – Time to Buy?

iShares U.S. Telecommunications ETF (BATS:IYZ) reached a new 52-week high on Thursday . The company traded as high as $43.71 and last traded at $43.69, with a volume of 67149 shares traded. The stock had previously closed at $41.86.

iShares U.S. Telecommunications ETF Price Performance

The firm has a market capitalization of $800.73 million, a PE ratio of 14.09 and a beta of 0.90. The company has a fifty day moving average of $40.74 and a 200-day moving average of $36.65.

Institutional Investors Weigh In On iShares U.S. Telecommunications ETF

Institutional investors have recently made changes to their positions in the company. WFA of San Diego LLC acquired a new position in iShares U.S. Telecommunications ETF in the second quarter worth approximately $25,000. Assetmark Inc. grew its position in iShares U.S. Telecommunications ETF by 751.9% in the third quarter. Assetmark Inc. now owns 886 shares of the exchange traded fund’s stock worth $29,000 after acquiring an additional 782 shares in the last quarter. Concord Wealth Partners bought a new stake in iShares U.S. Telecommunications ETF in the fourth quarter worth approximately $34,000. Allworth Financial LP increased its stake in shares of iShares U.S. Telecommunications ETF by 4,732.3% during the 4th quarter. Allworth Financial LP now owns 1,498 shares of the exchange traded fund’s stock worth $51,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Miller Global Investments LLC acquired a new position in shares of iShares U.S. Telecommunications ETF during the 4th quarter worth $60,000.

About iShares U.S. Telecommunications ETF

iShares U.S. Telecommunications ETF (the Fund), formerly iShares Dow Jones U.S. Telecommunications Sector Index Fund, is a non-diversified 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. Select Telecommunications Index (the Index). The Index measures the performance of the telecommunications sector of the United States equity market, and includes companies in the industry groups, such as fixed-line telecommunications and mobile telecommunications.