iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Hits New 1-Year High – Here’s What Happened

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $63.92 and last traded at $63.90, with a volume of 6771 shares traded. The stock had previously closed at $63.36.

iShares U.S. Regional Banks ETF Price Performance

The firm has a market capitalization of $680.00 million, a price-to-earnings ratio of 12.39 and a beta of 0.88. The firm’s fifty day moving average is $59.29 and its 200 day moving average is $57.71.

Institutional Investors Weigh In On iShares U.S. Regional Banks ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of iShares U.S. Regional Banks ETF by 23.0% during the 1st quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock valued at $28,060,000 after buying an additional 97,510 shares during the period. Wells Fargo & Company MN raised its holdings in shares of iShares U.S. Regional Banks ETF by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 481,700 shares of the company’s stock worth $26,566,000 after acquiring an additional 16,723 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of iShares U.S. Regional Banks ETF by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 375,804 shares of the company’s stock worth $19,741,000 after acquiring an additional 15,185 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of iShares U.S. Regional Banks ETF by 154.3% during the third quarter. Two Sigma Investments LP now owns 193,000 shares of the company’s stock worth $10,138,000 after acquiring an additional 117,100 shares in the last quarter. Finally, Lido Advisors LLC acquired a new stake in iShares U.S. Regional Banks ETF during the first quarter valued at $10,280,000.

About iShares U.S. Regional Banks ETF

The iShares U.S. Regional Banks ETF (IAT) is an exchange-traded fund that is based on the DJ US Select \u002F Regional Banks index. The fund tracks the performance of an index of small- and mid-cap regional banks. IAT was launched on May 1, 2006 and is managed by BlackRock.