iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Hits New 12-Month High – Should You Buy?

Shares of iShares U.S. Regional Banks ETF (NYSEARCA:IAT) hit a new 52-week high during trading on Tuesday . The company traded as high as $63.92 and last traded at $63.92, with a volume of 1341 shares trading hands. The stock had previously closed at $62.75.

iShares U.S. Regional Banks ETF Stock Performance

The business’s 50-day moving average is $59.00 and its two-hundred day moving average is $57.57. The firm has a market capitalization of $653.81 million, a price-to-earnings ratio of 12.39 and a beta of 0.88.

Institutional Investors Weigh In On iShares U.S. Regional Banks ETF

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of 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 worth $28,060,000 after purchasing an additional 97,510 shares in the last quarter. Wells Fargo & Company MN raised its stake in iShares U.S. Regional Banks ETF by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 481,700 shares of the company’s stock worth $26,566,000 after buying an additional 16,723 shares during the period. JPMorgan Chase & Co. raised its stake in iShares U.S. Regional Banks ETF by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 375,804 shares of the company’s stock worth $19,741,000 after buying an additional 15,185 shares during the period. Two Sigma Investments LP lifted its holdings in iShares U.S. Regional Banks ETF by 154.3% during the third quarter. Two Sigma Investments LP now owns 193,000 shares of the company’s stock worth $10,138,000 after acquiring an additional 117,100 shares in the last quarter. Finally, Lido Advisors LLC bought a new position in iShares U.S. Regional Banks ETF during the first quarter worth about $10,280,000.

iShares U.S. Regional Banks ETF Company Profile

The iShares U.S. Regional Banks ETF (IAT) is an exchange-traded fund that is based on the DJ US Select \u002F Regional Banks index. The fund tracks the performance of an index of small- and mid-cap regional banks. IAT was launched on May 1, 2006 and is managed by BlackRock.