iShares U.S. Utilities ETF (NYSEARCA:IDU) Hits New 52-Week High – Time to Buy?

Shares of iShares U.S. Utilities ETF (NYSEARCA:IDU) hit a new 52-week high during trading on Tuesday . The company traded as high as $113.60 and last traded at $113.47, with a volume of 101123 shares traded. The stock had previously closed at $112.54.

iShares U.S. Utilities ETF Price Performance

The business’s 50 day simple moving average is $108.94 and its 200 day simple moving average is $104.97. The stock has a market cap of $1.57 billion, a P/E ratio of 21.72 and a beta of 0.53.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new stake in iShares U.S. Utilities ETF in the second quarter valued at $25,000. Hilltop National Bank acquired a new position in shares of iShares U.S. Utilities ETF during the 2nd quarter worth $38,000. Assetmark Inc. acquired a new position in shares of iShares U.S. Utilities ETF during the second quarter worth $41,000. Farther Finance Advisors LLC increased its position in iShares U.S. Utilities ETF by 886.5% in the 1st quarter. Farther Finance Advisors LLC now owns 878 shares of the company’s stock valued at $89,000 after acquiring an additional 789 shares during the period. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of iShares U.S. Utilities ETF by 34.5% in the first quarter. Laurel Wealth Advisors LLC now owns 900 shares of the company’s stock worth $91,000 after acquiring an additional 231 shares during the period.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market.