iShares U.S. Energy ETF (NYSEARCA:IYE) Hits New 52-Week High – Still a Buy?

iShares U.S. Energy ETF (NYSEARCA:IYE) shares hit a new 52-week high during trading on Thursday . The company traded as high as $58.98 and last traded at $58.4580, with a volume of 349081 shares. The stock had previously closed at $57.90.

iShares U.S. Energy ETF Trading Up 1.1%

The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 15.53 and a beta of 0.78. The stock has a fifty day moving average price of $51.12 and a 200-day moving average price of $48.48.

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

A number of hedge funds have recently made changes to their positions in the company. Westfuller Advisors LLC bought a new stake in iShares U.S. Energy ETF during the third quarter worth about $28,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of iShares U.S. Energy ETF in the 4th quarter worth approximately $33,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of iShares U.S. Energy ETF in the 2nd quarter worth approximately $45,000. Capital Investment Advisory Services LLC grew its position in iShares U.S. Energy ETF by 253.3% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 954 shares of the company’s stock worth $45,000 after acquiring an additional 684 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in iShares U.S. Energy ETF during the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 52.46% of the company’s stock.

About iShares U.S. Energy ETF

iShares U.S. Energy ETF (the Fund), formerly iShares Dow Jones U.S. Energy Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Oil & Gas Index (the Index). The Index measures the performance of the oil and gas sector of the United States equity market, and includes companies in industry groups, such as oil and gas producers, and oil equipment, services and distribution. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.