iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Hits New 12-Month High – Still a Buy?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $58.65 and last traded at $58.47, with a volume of 38978 shares traded. The stock had previously closed at $56.84.

iShares U.S. Regional Banks ETF Trading Up 3.1%

The stock has a market capitalization of $618.12 million, a PE ratio of 12.39 and a beta of 0.96. The business has a fifty day moving average price of $54.46 and a 200-day moving average price of $52.56.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC purchased a new stake in shares of iShares U.S. Regional Banks ETF during the second quarter valued at approximately $66,000. Advisory Services Network LLC raised its holdings in iShares U.S. Regional Banks ETF by 42.8% during the 2nd quarter. Advisory Services Network LLC now owns 56,828 shares of the company’s stock valued at $2,850,000 after buying an additional 17,031 shares during the last quarter. Pettyjohn Wood & White Inc. purchased a new stake in iShares U.S. Regional Banks ETF during the 2nd quarter valued at $212,000. Family Firm Inc. grew its holdings in iShares U.S. Regional Banks ETF by 11.2% in the 2nd quarter. Family Firm Inc. now owns 33,536 shares of the company’s stock worth $1,662,000 after acquiring an additional 3,381 shares during the last quarter. Finally, KCM Investment Advisors LLC increased its position in shares of iShares U.S. Regional Banks ETF by 2.6% in the second quarter. KCM Investment Advisors LLC now owns 55,555 shares of the company’s stock valued at $2,753,000 after acquiring an additional 1,429 shares during the period.

iShares U.S. Regional Banks ETF Company Profile

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.