iShares U.S. Telecommunications ETF (BATS:IYZ) Reaches New 52-Week High – Still a Buy?

Shares of iShares U.S. Telecommunications ETF (BATS:IYZ) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.10 and last traded at $44.74, with a volume of 817849 shares trading hands. The stock had previously closed at $44.70.

iShares U.S. Telecommunications ETF Stock Up 0.1%

The firm has a market capitalization of $825.45 million, a P/E ratio of 14.09 and a beta of 0.90. The firm has a 50 day moving average of $41.51 and a 200-day moving average of $37.35.

Institutional Investors Weigh In On iShares U.S. Telecommunications ETF

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in iShares U.S. Telecommunications ETF by 4.7% during the first quarter. Royal Bank of Canada now owns 165,327 shares of the exchange traded fund’s stock valued at $4,527,000 after purchasing an additional 7,358 shares in the last quarter. Goldman Sachs Group Inc. raised its position in iShares U.S. Telecommunications ETF by 393.2% during the first quarter. Goldman Sachs Group Inc. now owns 268,212 shares of the exchange traded fund’s stock valued at $7,346,000 after purchasing an additional 213,827 shares in the last quarter. Jane Street Group LLC raised its position in iShares U.S. Telecommunications ETF by 126.6% during the first quarter. Jane Street Group LLC now owns 23,312 shares of the exchange traded fund’s stock valued at $639,000 after purchasing an additional 13,023 shares in the last quarter. Qube Research & Technologies Ltd raised its position in iShares U.S. Telecommunications ETF by 14.4% during the second quarter. Qube Research & Technologies Ltd now owns 184,398 shares of the exchange traded fund’s stock valued at $5,491,000 after purchasing an additional 23,215 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in iShares U.S. Telecommunications ETF by 15.4% during the second quarter. Raymond James Financial Inc. now owns 428,782 shares of the exchange traded fund’s stock valued at $12,769,000 after purchasing an additional 57,284 shares in the last quarter.

iShares U.S. Telecommunications ETF Company Profile

iShares U.S. Telecommunications ETF (the Fund), formerly iShares Dow Jones U.S. Telecommunications Sector Index Fund, is a non-diversified 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. Select Telecommunications Index (the Index). The Index measures the performance of the telecommunications sector of the United States equity market, and includes companies in the industry groups, such as fixed-line telecommunications and mobile telecommunications.