iShares S&P 500 Value ETF (NYSEARCA:IVE) Sets New 12-Month High – Here’s Why

iShares S&P 500 Value ETF (NYSEARCA:IVE)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $228.95 and last traded at $228.71, with a volume of 35778 shares trading hands. The stock had previously closed at $228.03.

iShares S&P 500 Value ETF Stock Up 0.0%

The stock has a 50-day simple moving average of $218.58 and a two-hundred day simple moving average of $216.26. The firm has a market cap of $50.34 billion, a PE ratio of 20.70 and a beta of 0.83.

Hedge Funds Weigh In On iShares S&P 500 Value ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in shares of iShares S&P 500 Value ETF by 5.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,121,389 shares of the company’s stock worth $4,568,288,000 after acquiring an additional 1,137,886 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of iShares S&P 500 Value ETF by 4.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,748,246 shares of the company’s stock valued at $3,975,941,000 after purchasing an additional 821,872 shares during the period. Morgan Stanley boosted its position in shares of iShares S&P 500 Value ETF by 7.5% during the fourth quarter. Morgan Stanley now owns 15,278,856 shares of the company’s stock valued at $3,240,188,000 after purchasing an additional 1,068,945 shares in the last quarter. Bank of America Corp DE boosted its position in shares of iShares S&P 500 Value ETF by 2.0% during the first quarter. Bank of America Corp DE now owns 9,457,775 shares of the company’s stock valued at $1,997,009,000 after purchasing an additional 182,358 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in iShares S&P 500 Value ETF by 2.0% in the fourth quarter. Wells Fargo & Company MN now owns 6,264,139 shares of the company’s stock worth $1,328,436,000 after purchasing an additional 120,153 shares in the last quarter.

About iShares S&P 500 Value ETF

iShares S&P 500 Value ETF (the Fund), formerly iShares S&P 500 Value Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P 500 Value Index (the Index). The Index measures the performance of the large-capitalization value sector of the United States equity market and consists of those stocks in the S&P 500 exhibiting the strongest value characteristics. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Underlying Index.