iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sees Strong Trading Volume – What’s Next?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) saw unusually-high trading volume on Wednesday. Approximately 639,462 shares traded hands during trading, an increase of 146% from the average daily volume of 259,912 shares. The stock last traded at $60.9240 and had previously closed at $60.24.

iShares U.S. Regional Banks ETF Trading Up 1.7%

The stock has a market capitalization of $649.45 million, a P/E ratio of 12.39 and a beta of 0.91. The business has a 50-day moving average price of $59.52 and a 200 day moving average price of $59.19.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in iShares U.S. Regional Banks ETF by 23.0% during the first quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock valued at $28,060,000 after buying an additional 97,510 shares during the period. Lido Advisors LLC purchased a new position in iShares U.S. Regional Banks ETF in the first quarter valued at about $10,280,000. Commonwealth Equity Services LLC bought a new position in iShares U.S. Regional Banks ETF in the third quarter worth about $3,867,000. KCM Investment Advisors LLC raised its holdings in iShares U.S. Regional Banks ETF by 2.4% in the first quarter. KCM Investment Advisors LLC now owns 58,452 shares of the company’s stock worth $3,147,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Westwind Capital raised its holdings in iShares U.S. Regional Banks ETF by 8.5% in the third quarter. Westwind Capital now owns 40,076 shares of the company’s stock worth $2,293,000 after purchasing an additional 3,142 shares in the last quarter.

iShares U.S. Regional Banks ETF Company Profile

The iShares U.S. Regional Banks ETF (IAT) seeks to track the investment results of the Dow Jones U.S. Select Regional Banks Index. The fund provides targeted exposure to small- and mid-sized U.S. banks. The index uses a float-adjusted market-capitalization weighting methodology, meaning larger holdings have a greater influence on performance. Launched on May 1, 2006, the fund is managed by BlackRock Fund Advisors.