iShares U.S. Financial Services ETF (NYSEARCA:IYG) Reaches New 1-Year High – Time to Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $96.10 and last traded at $96.10, with a volume of 22636 shares. The stock had previously closed at $95.36.

iShares U.S. Financial Services ETF Trading Up 0.8%

The stock has a market capitalization of $2.17 billion, a PE ratio of 18.95 and a beta of 0.96. The firm’s 50-day simple moving average is $90.84 and its two-hundred day simple moving average is $88.47.

Institutional Trading of iShares U.S. Financial Services ETF

Several hedge funds and other institutional investors have recently modified their holdings of IYG. RiverFront Investment Group LLC grew its holdings in shares of iShares U.S. Financial Services ETF by 0.7% during the fourth quarter. RiverFront Investment Group LLC now owns 1,449,021 shares of the company’s stock valued at $133,672,000 after buying an additional 10,089 shares in the last quarter. Morgan Stanley lifted its stake in iShares U.S. Financial Services ETF by 0.4% in the 4th quarter. Morgan Stanley now owns 1,079,849 shares of the company’s stock worth $99,616,000 after acquiring an additional 4,054 shares in the last quarter. JPMorgan Chase & Co. boosted its position in iShares U.S. Financial Services ETF by 234.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock worth $95,176,000 after acquiring an additional 723,555 shares during the period. OpenArc Corporate Advisory LLC acquired a new stake in iShares U.S. Financial Services ETF during the 4th quarter worth about $55,635,000. Finally, Dynasty Wealth Management LLC purchased a new position in iShares U.S. Financial Services ETF during the 4th quarter valued at about $49,084,000.

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.