iShares U.S. Consumer Discretionary ETF (NYSEARCA:IYC) Sees Strong Trading Volume – Should You Buy?

iShares U.S. Consumer Discretionary ETF (NYSEARCA:IYC) shares saw unusually-strong trading volume on Thursday . Approximately 504,618 shares changed hands during mid-day trading, an increase of 124% from the previous session’s volume of 225,043 shares.The stock last traded at $106.47 and had previously closed at $106.03.

iShares U.S. Consumer Discretionary ETF Stock Performance

The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 26.19 and a beta of 1.20. The business’s 50 day simple moving average is $103.30 and its 200-day simple moving average is $102.91.

Hedge Funds Weigh In On iShares U.S. Consumer Discretionary ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Management Group Inc. ADV grew its stake in shares of iShares U.S. Consumer Discretionary ETF by 4.3% in the second quarter. Advisors Management Group Inc. ADV now owns 2,912 shares of the company’s stock worth $290,000 after purchasing an additional 121 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in iShares U.S. Consumer Discretionary ETF by 0.9% in the first quarter. NewEdge Advisors LLC now owns 13,837 shares of the company’s stock worth $1,222,000 after purchasing an additional 125 shares during the period. Focus Financial Network Inc. grew its position in iShares U.S. Consumer Discretionary ETF by 4.6% in the 2nd quarter. Focus Financial Network Inc. now owns 2,942 shares of the company’s stock valued at $293,000 after buying an additional 130 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its position in iShares U.S. Consumer Discretionary ETF by 0.3% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 57,118 shares of the company’s stock valued at $5,891,000 after buying an additional 149 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in iShares U.S. Consumer Discretionary ETF by 5.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,959 shares of the company’s stock valued at $305,000 after buying an additional 158 shares during the period.

About iShares U.S. Consumer Discretionary ETF

The iShares US Consumer Discretionary ETF (IYC) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund tracks a market-cap-weighted index of US companies that provide consumer services. IYC was launched on Jun 12, 2000 and is managed by BlackRock.