iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ) Trading 2% Higher – Here’s Why

iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ)’s share price traded up 2% during mid-day trading on Tuesday . The company traded as high as $26.55 and last traded at $26.36. 362,998 shares changed hands during trading, a decline of 37% from the average session volume of 579,844 shares. The stock had previously closed at $25.85.

iShares U.S. Oil Equipment & Services ETF Price Performance

The stock has a market capitalization of $365.09 million, a PE ratio of 11.67 and a beta of 0.89. The business’s fifty day moving average price is $29.84 and its two-hundred day moving average price is $27.62.

Institutional Investors Weigh In On iShares U.S. Oil Equipment & Services ETF

Several hedge funds have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new stake in iShares U.S. Oil Equipment & Services ETF during the 4th quarter worth about $35,000. Advisors Preferred LLC acquired a new position in shares of iShares U.S. Oil Equipment & Services ETF in the 1st quarter valued at about $40,000. Sunbelt Securities Inc. boosted its stake in shares of iShares U.S. Oil Equipment & Services ETF by 198.3% in the first quarter. Sunbelt Securities Inc. now owns 6,971 shares of the company’s stock worth $202,000 after buying an additional 4,634 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of iShares U.S. Oil Equipment & Services ETF by 25.7% in the second quarter. Ameriprise Financial Inc. now owns 53,762 shares of the company’s stock worth $912,000 after buying an additional 10,994 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in iShares U.S. Oil Equipment & Services ETF by 46.7% during the third quarter. BNP Paribas Financial Markets now owns 147,700 shares of the company’s stock worth $2,849,000 after acquiring an additional 47,000 shares during the period.

About iShares U.S. Oil Equipment & Services ETF

iShares U.S. Oil Equipment & Services ETF (the Fund), formerly iShares Dow Jones U.S. Oil Equipment & Services 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. Select Oil Equipment & Services Index (the Index). The Index measures the performance of the oil equipment and services sector of the United States equity market, and includes companies that are suppliers of equipment or services to oil fields and offshore platforms, such as drilling, exploration, engineering, logistics, seismic information services and platform construction.