iShares U.S. Financials ETF (NYSEARCA:IYF) Sees Strong Trading Volume – Here’s Why

iShares U.S. Financials ETF (NYSEARCA:IYF) shares saw unusually-strong trading volume on Wednesday . Approximately 555,567 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 409,852 shares.The stock last traded at $115.54 and had previously closed at $114.98.

iShares U.S. Financials ETF Stock Performance

The company has a fifty day moving average of $115.39 and a two-hundred day moving average of $111.83. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 15.00 and a beta of 1.08.

Institutional Investors Weigh In On iShares U.S. Financials ETF

Institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC raised its position in iShares U.S. Financials ETF by 36.4% in the 4th quarter. Park Avenue Securities LLC now owns 3,048 shares of the company’s stock valued at $337,000 after buying an additional 813 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in iShares U.S. Financials ETF by 16.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 53,268 shares of the company’s stock valued at $5,890,000 after acquiring an additional 7,441 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of iShares U.S. Financials ETF during the fourth quarter worth about $523,000. IFP Advisors Inc lifted its stake in iShares U.S. Financials ETF by 569.1% during the fourth quarter. IFP Advisors Inc now owns 736 shares of the company’s stock worth $81,000 after purchasing an additional 626 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of iShares U.S. Financials ETF during the fourth quarter valued at about $210,000.

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.