iShares U.S. Transportation ETF (BATS:IYT) Reaches New 12-Month High – Still a Buy?

iShares U.S. Transportation ETF (BATS:IYT)’s share price reached a new 52-week high on Monday . The stock traded as high as $88.74 and last traded at $88.60, with a volume of 20960 shares traded. The stock had previously closed at $87.99.

iShares U.S. Transportation ETF Trading Down 0.3%

The business’s 50 day simple moving average is $83.55 and its two-hundred day simple moving average is $79.72. The firm has a market capitalization of $880.42 million, a P/E ratio of 16.05 and a beta of 1.25.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its position in iShares U.S. Transportation ETF by 233.9% during the first quarter. NewEdge Advisors LLC now owns 12,589 shares of the exchange traded fund’s stock valued at $806,000 after purchasing an additional 8,819 shares in the last quarter. Cerity Partners LLC purchased a new position in iShares U.S. Transportation ETF during the second quarter valued at approximately $388,000. Raymond James Financial Inc. lifted its holdings in iShares U.S. Transportation ETF by 8.4% during the second quarter. Raymond James Financial Inc. now owns 91,742 shares of the exchange traded fund’s stock valued at $6,288,000 after purchasing an additional 7,112 shares in the last quarter. Bank of America Corp DE boosted its position in shares of iShares U.S. Transportation ETF by 54.6% in the second quarter. Bank of America Corp DE now owns 255,098 shares of the exchange traded fund’s stock worth $17,484,000 after purchasing an additional 90,131 shares during the period. Finally, WFA of San Diego LLC purchased a new stake in shares of iShares U.S. Transportation ETF in the second quarter worth $69,000.

About iShares U.S. Transportation ETF

iShares Transportation Average ETF (the Fund), formerly iShares Dow Jones Transportation Average Index Fund, is an exchange-traded fund (ETF). The Fund seek investment results that correspond generally to the price and yield performance, before fees and expenses, of Dow Jones Transportation Average Index. The Index measures the performance of the transportation sector of the United States equity market, and includes companies in the primary groups, such as airlines, trucking, railroads, air freight, transportation services and industrial services.