iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sets New 1-Year High – Here’s Why

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s share price hit a new 52-week high on Wednesday . The company traded as high as $95.94 and last traded at $95.86, with a volume of 17985 shares changing hands. The stock had previously closed at $94.60.

iShares U.S. Financial Services ETF Trading Up 1.1%

The firm has a fifty day simple moving average of $89.42 and a 200 day simple moving average of $88.40. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 18.95 and a beta of 0.96.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in shares of iShares U.S. Financial Services ETF by 17.4% in the 1st quarter. NewEdge Advisors LLC now owns 10,232 shares of the company’s stock worth $804,000 after acquiring an additional 1,517 shares in the last quarter. Focus Partners Wealth raised its holdings in iShares U.S. Financial Services ETF by 11.2% during the 1st quarter. Focus Partners Wealth now owns 6,826 shares of the company’s stock worth $536,000 after purchasing 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 stake in shares of iShares U.S. Financial Services ETF by 267.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 2,368 shares of the company’s stock valued at $203,000 after purchasing an additional 1,724 shares during the period. Finally, Florida Financial Advisors LLC acquired a new position in shares of iShares U.S. Financial Services ETF during the 2nd quarter worth about $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.