iShares U.S. Energy ETF (NYSEARCA:IYE) Stock Cross Above Fifty Day Moving Average – Here’s Why

Shares of iShares U.S. Energy ETF (NYSEARCA:IYE) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $68.48 and traded as high as $68.63. iShares U.S. Energy ETF shares last traded at $68.55, with a volume of 871,964 shares changing hands.

iShares U.S. Energy ETF Price Performance

The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 13.54 and a beta of 0.45. The firm has a fifty day moving average of $68.48 and a 200 day moving average of $62.83.

Institutional Trading of iShares U.S. Energy ETF

Large investors have recently added to or reduced their stakes in the stock. RMG Wealth Management LLC acquired a new stake in shares of iShares U.S. Energy ETF in the 1st quarter worth $25,000. Financial Management Professionals Inc. acquired a new position in shares of iShares U.S. Energy ETF during the 3rd quarter valued at about $33,000. GKV Capital Management Co. Inc. acquired a new position in shares of iShares U.S. Energy ETF during the 1st quarter valued at about $49,000. Three Bridge Wealth Advisors LLC acquired a new stake in iShares U.S. Energy ETF during the third quarter worth about $65,000. Finally, Russell Investments Group Ltd. increased its position in iShares U.S. Energy ETF by 1,179.8% during the third quarter. Russell Investments Group Ltd. now owns 1,075 shares of the company’s stock worth $70,000 after purchasing an additional 991 shares during the last quarter. 52.46% of the stock is currently owned by hedge funds and other institutional investors.

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.