iShares U.S. Financial Services ETF (NYSEARCA:IYG) Reaches New 52-Week High – Should You Buy?

Shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) hit a new 52-week high during trading on Wednesday. The stock traded as high as $98.70 and last traded at $98.7180, with a volume of 134,780 shares trading hands. The stock had previously closed at $95.42.

iShares U.S. Financial Services ETF Price Performance

The firm has a 50 day simple moving average of $93.95 and a 200-day simple moving average of $90.51. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 16.62 and a beta of 0.97.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. acquired a new position in shares of iShares U.S. Financial Services ETF in the 3rd quarter valued at $13,232,000. Howard Capital Management Group LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the third quarter worth approximately $8,356,000. Cetera Investment Advisers grew its position in shares of iShares U.S. Financial Services ETF by 3.8% in the first quarter. Cetera Investment Advisers now owns 51,002 shares of the company’s stock valued at $4,225,000 after purchasing an additional 1,889 shares during the last quarter. Centerline Wealth Advisors LLC lifted its holdings in iShares U.S. Financial Services ETF by 1.5% during the 3rd quarter. Centerline Wealth Advisors LLC now owns 46,788 shares of the company’s stock worth $4,207,000 after purchasing an additional 695 shares during the last quarter. Finally, Forte Asset Management LLC bought a new stake in iShares U.S. Financial Services ETF in the 3rd quarter valued at $4,157,000.

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.