iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Strong Trading Volume – Here’s What Happened

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw an uptick in trading volume on Thursday . 95,199 shares traded hands during trading, an increase of 11% from the previous session’s volume of 85,526 shares.The stock last traded at $87.6340 and had previously closed at $86.34.

iShares U.S. Financial Services ETF Price Performance

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 18.95 and a beta of 1.11. The firm’s 50-day simple moving average is $88.40 and its two-hundred day simple moving average is $86.29.

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

Several hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in iShares U.S. Financial Services ETF by 2.1% during the third quarter. Envestnet Asset Management Inc. now owns 1,323,623 shares of the company’s stock worth $118,650,000 after purchasing an additional 27,298 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of iShares U.S. Financial Services ETF by 4.2% during the 2nd quarter. Foundations Investment Advisors LLC now owns 505,496 shares of the company’s stock worth $43,270,000 after buying an additional 20,565 shares during the last quarter. Bank of America Corp DE boosted its position in shares of iShares U.S. Financial Services ETF by 1.8% in the 3rd quarter. Bank of America Corp DE now owns 502,126 shares of the company’s stock worth $45,011,000 after buying an additional 8,857 shares in the last quarter. LPL Financial LLC grew its stake in iShares U.S. Financial Services ETF by 5.7% in the 1st quarter. LPL Financial LLC now owns 459,449 shares of the company’s stock valued at $36,090,000 after acquiring an additional 24,828 shares during the last quarter. Finally, Kozak & Associates Inc. grew its stake in iShares U.S. Financial Services ETF by 30.8% in the 3rd quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock valued at $35,875,000 after acquiring an additional 98,267 shares during the last quarter.

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.