iShares U.S. Financial Services ETF (NYSEARCA:IYG) Reaches New 1-Year High – What’s Next?

iShares U.S. Financial Services ETF (NYSEARCA:IYG) shares reached a new 52-week high on Monday . The stock traded as high as $96.43 and last traded at $96.27, with a volume of 9509 shares changing hands. The stock had previously closed at $95.52.

iShares U.S. Financial Services ETF Trading Up 1.0%

The stock’s 50-day moving average price is $91.89 and its 200-day moving average price is $88.58. The company has a market cap of $2.21 billion, a P/E ratio of 18.95 and a beta of 0.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IYG. RiverFront Investment Group LLC increased its holdings in shares of iShares U.S. Financial Services ETF by 0.7% during the fourth quarter. RiverFront Investment Group LLC now owns 1,449,021 shares of the company’s stock valued at $133,672,000 after acquiring an additional 10,089 shares in the last quarter. Morgan Stanley increased its stake in iShares U.S. Financial Services ETF by 0.4% during the 4th quarter. Morgan Stanley now owns 1,079,849 shares of the company’s stock valued at $99,616,000 after purchasing an additional 4,054 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in iShares U.S. Financial Services ETF by 234.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock worth $95,176,000 after buying an additional 723,555 shares during the last quarter. OpenArc Corporate Advisory LLC acquired a new position in iShares U.S. Financial Services ETF during the fourth quarter worth $55,635,000. Finally, Dynasty Wealth Management LLC bought a new position in shares of iShares U.S. Financial Services ETF in the fourth quarter valued at $49,084,000.

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.