iShares U.S. Financial Services ETF (NYSEARCA:IYG) Reaches New 52-Week High – What’s Next?

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $96.43 and last traded at $96.27, with a volume of 9509 shares. The stock had previously closed at $95.52.

iShares U.S. Financial Services ETF Price Performance

The stock has a market cap of $2.19 billion, a P/E ratio of 18.95 and a beta of 0.96. The stock’s 50 day simple moving average is $91.52 and its two-hundred day simple moving average is $88.50.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its holdings in shares of iShares U.S. Financial Services ETF by 17.4% in the first quarter. NewEdge Advisors LLC now owns 10,232 shares of the company’s stock worth $804,000 after acquiring an additional 1,517 shares during the last quarter. Focus Partners Wealth increased its holdings in iShares U.S. Financial Services ETF by 11.2% in the first quarter. Focus Partners Wealth now owns 6,826 shares of the company’s stock valued at $536,000 after purchasing an additional 685 shares during the period. Baird Financial Group Inc. raised its position in iShares U.S. Financial Services ETF by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 8,694 shares of the company’s stock worth $744,000 after purchasing an additional 320 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in iShares U.S. Financial Services ETF by 267.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 2,368 shares of the company’s stock worth $203,000 after buying an additional 1,724 shares during the period. Finally, Florida Financial Advisors LLC bought a new stake in shares of iShares U.S. Financial Services ETF in the 2nd quarter valued at about $394,000.

About iShares U.S. Financial Services ETF

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. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.