iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sets New 52-Week High – Still a Buy?

Shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) hit a new 52-week high during trading on Friday . The stock traded as high as $82.86 and last traded at $82.86, with a volume of 8845 shares changing hands. The stock had previously closed at $82.62.

iShares U.S. Financial Services ETF Price Performance

The company has a market cap of $1.68 billion, a PE ratio of 5.95 and a beta of 0.91. The company’s fifty day moving average price is $79.65 and its 200 day moving average price is $73.91.

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

Institutional investors have recently modified their holdings of the business. Carnegie Investment Counsel boosted its position in iShares U.S. Financial Services ETF by 2.6% during the fourth quarter. Carnegie Investment Counsel now owns 5,323 shares of the company’s stock worth $414,000 after purchasing an additional 135 shares during the period. Commerce Bank raised its position in shares of iShares U.S. Financial Services ETF by 5.4% in the third quarter. Commerce Bank now owns 3,954 shares of the company’s stock worth $281,000 after buying an additional 204 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in iShares U.S. Financial Services ETF by 6.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,507 shares of the company’s stock worth $249,000 after buying an additional 213 shares in the last quarter. Wetzel Investment Advisors Inc. raised its stake in iShares U.S. Financial Services ETF by 5.5% in the third quarter. Wetzel Investment Advisors Inc. now owns 4,157 shares of the company’s stock valued at $295,000 after purchasing an additional 215 shares in the last quarter. Finally, Financial Avengers Inc. purchased a new stake in shares of iShares U.S. Financial Services ETF during the 3rd quarter valued at $28,000.

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.