iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Strong Trading Volume – Here’s What Happened

iShares U.S. Financial Services ETF (NYSEARCA:IYG) shares saw strong trading volume on Thursday . 95,199 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 85,526 shares.The stock last traded at $87.6340 and had previously closed at $86.34.

iShares U.S. Financial Services ETF Stock Down 0.6%

The company has a fifty day moving average of $88.56 and a two-hundred day moving average of $86.25. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 18.95 and a beta of 1.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC raised its stake in shares of iShares U.S. Financial Services ETF by 23.5% during the 1st quarter. Cerity Partners LLC now owns 9,238 shares of the company’s stock worth $726,000 after buying an additional 1,757 shares in the last quarter. Carnegie Investment Counsel increased its holdings in shares of iShares U.S. Financial Services ETF by 43.7% in the 1st quarter. Carnegie Investment Counsel now owns 7,650 shares of the company’s stock valued at $547,000 after purchasing an additional 2,327 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of iShares U.S. Financial Services ETF by 21.1% in the first quarter. Avantax Advisory Services Inc. now owns 8,841 shares of the company’s stock valued at $694,000 after purchasing an additional 1,542 shares during the period. Cetera Investment Advisers grew its position in iShares U.S. Financial Services ETF by 0.7% during the first quarter. Cetera Investment Advisers now owns 45,419 shares of the company’s stock worth $3,568,000 after buying an additional 314 shares during the period. Finally, Caliber Wealth Management LLC KS acquired a new stake in shares of iShares U.S. Financial Services ETF during the 1st quarter valued at approximately $1,299,000.

About iShares U.S. Financial Services ETF

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.