iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Unusually-High Trading Volume – Here’s Why

iShares U.S. Financial Services ETF (NYSEARCA:IYG) shares saw strong trading volume on Wednesday . 350,109 shares traded hands during trading, an increase of 189% from the previous session’s volume of 121,077 shares.The stock last traded at $86.88 and had previously closed at $85.91.

iShares U.S. Financial Services ETF Stock Performance

The stock has a 50-day simple moving average of $85.21 and a 200 day simple moving average of $88.21. The stock has a market capitalization of $2.00 billion, a P/E ratio of 18.95 and a beta of 0.98.

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

Several hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in iShares U.S. Financial Services ETF by 17.4% during the 1st quarter. NewEdge Advisors LLC now owns 10,232 shares of the company’s stock valued at $804,000 after purchasing an additional 1,517 shares during the period. Focus Partners Wealth raised its stake in shares of iShares U.S. Financial Services ETF by 11.2% during the first quarter. Focus Partners Wealth now owns 6,826 shares of the company’s stock worth $536,000 after buying an additional 685 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of iShares U.S. Financial Services ETF by 3.8% during the second quarter. Baird Financial Group Inc. now owns 8,694 shares of the company’s stock worth $744,000 after buying an additional 320 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in iShares U.S. Financial Services ETF by 267.7% in the second quarter. Qube Research & Technologies Ltd now owns 2,368 shares of the company’s stock valued at $203,000 after buying an additional 1,724 shares during the period. Finally, Florida Financial Advisors LLC acquired a new position in iShares U.S. Financial Services ETF in the second quarter valued at approximately $394,000.

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.