iShares U.S. Financials ETF (NYSEARCA:IYF) Hits New 1-Year High – Here’s Why

Shares of iShares U.S. Financials ETF (NYSEARCA:IYF) hit a new 52-week high during trading on Tuesday . The stock traded as high as $135.05 and last traded at $134.86, with a volume of 28500 shares trading hands. The stock had previously closed at $133.30.

iShares U.S. Financials ETF Price Performance

The stock’s 50 day moving average price is $126.20 and its two-hundred day moving average price is $124.97. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 16.42 and a beta of 0.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of iShares U.S. Financials ETF by 488.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,913,622 shares of the company’s stock valued at $504,583,000 after acquiring an additional 3,248,510 shares during the period. Dynasty Wealth Management LLC lifted its position in shares of iShares U.S. Financials ETF by 545.2% during the 4th quarter. Dynasty Wealth Management LLC now owns 1,762,552 shares of the company’s stock worth $227,246,000 after buying an additional 1,489,376 shares during the period. Bank of America Corp DE boosted its stake in iShares U.S. Financials ETF by 5.7% in the 3rd quarter. Bank of America Corp DE now owns 1,586,519 shares of the company’s stock valued at $200,917,000 after buying an additional 86,197 shares in the last quarter. JPMorgan Chase & Co. grew its position in iShares U.S. Financials ETF by 184.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,053,341 shares of the company’s stock valued at $135,807,000 after acquiring an additional 682,543 shares during the period. Finally, Sagespring Wealth Partners LLC raised its stake in iShares U.S. Financials ETF by 247.2% during the fourth quarter. Sagespring Wealth Partners LLC now owns 826,819 shares of the company’s stock worth $106,602,000 after acquiring an additional 588,659 shares in the last quarter.

About iShares U.S. Financials ETF

iShares U.S. Financials ETF, formerly iShares Dow Jones U.S. Financial Sector Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial sector of the United States equity market, and includes companies in industry groups, such as banks, non-life insurance, life insurance, real estate and general finance. The Company invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.