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

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $71.83 and last traded at $71.83, with a volume of 7213 shares changing hands. The stock had previously closed at $71.17.

iShares U.S. Financial Services ETF Stock Performance

The stock has a market cap of $1.45 billion, a PE ratio of 5.95 and a beta of 0.91. The firm has a 50-day moving average price of $69.44 and a 200-day moving average price of $66.99.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

A number of institutional investors have recently made changes to their positions in the company. Indiana Trust & Investment Management CO raised its stake in shares of iShares U.S. Financial Services ETF by 100.0% in the first quarter. Indiana Trust & Investment Management CO now owns 402 shares of the company’s stock worth $27,000 after purchasing an additional 201 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in iShares U.S. Financial Services ETF in the 2nd quarter worth about $27,000. Fortis Group Advisors LLC lifted its stake in iShares U.S. Financial Services ETF by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 80 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of iShares U.S. Financial Services ETF by 200.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 450 shares of the company’s stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC grew its stake in shares of iShares U.S. Financial Services ETF by 344.4% in the second quarter. Carolinas Wealth Consulting LLC now owns 600 shares of the company’s stock worth $39,000 after acquiring an additional 465 shares during the period.

iShares U.S. Financial Services ETF Company Profile

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.