iShares U.S. Energy ETF (NYSEARCA:IYE) Sets New 12-Month High – Here’s Why

Shares of iShares U.S. Energy ETF (NYSEARCA:IYE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $51.92 and last traded at $51.6090, with a volume of 342387 shares traded. The stock had previously closed at $50.42.

iShares U.S. Energy ETF Stock Performance

The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 15.53 and a beta of 0.78. The company has a 50 day moving average price of $48.40 and a 200 day moving average price of $47.28.

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

A number of institutional investors have recently made changes to their positions in IYE. BNP Paribas Financial Markets lifted its holdings in shares of iShares U.S. Energy ETF by 936.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 217,548 shares of the company’s stock worth $9,838,000 after acquiring an additional 196,559 shares during the last quarter. Banco Santander S.A. purchased a new stake in iShares U.S. Energy ETF in the second quarter valued at approximately $8,796,000. Thrivent Financial for Lutherans lifted its stake in iShares U.S. Energy ETF by 126.1% during the second quarter. Thrivent Financial for Lutherans now owns 123,388 shares of the company’s stock worth $5,580,000 after purchasing an additional 68,819 shares in the last quarter. Forte Asset Management LLC purchased a new position in shares of iShares U.S. Energy ETF during the second quarter worth $2,826,000. Finally, Corient Private Wealth LLC boosted its position in shares of iShares U.S. Energy ETF by 242.3% during the second quarter. Corient Private Wealth LLC now owns 68,249 shares of the company’s stock worth $3,086,000 after buying an additional 48,308 shares during the period. 52.46% of the stock is currently owned by institutional investors and hedge funds.

About iShares U.S. Energy ETF

iShares U.S. Energy ETF (the Fund), formerly iShares Dow Jones U.S. Energy Sector 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. Oil & Gas Index (the Index). The Index measures the performance of the oil and gas sector of the United States equity market, and includes companies in industry groups, such as oil and gas producers, and oil equipment, services and distribution. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.