iShares U.S. Financial Services ETF (NYSEARCA:IYG) Hits New 1-Year High – Here’s Why

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $98.47 and last traded at $97.7430, with a volume of 15396 shares trading hands. The stock had previously closed at $97.04.

iShares U.S. Financial Services ETF Stock Performance

The business’s fifty day moving average price is $95.38 and its two-hundred day moving average price is $89.56. The stock has a market capitalization of $2.24 billion, a P/E ratio of 18.95 and a beta of 0.96.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Triumph Capital Management purchased a new position in iShares U.S. Financial Services ETF during the 3rd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of iShares U.S. Financial Services ETF in the 4th quarter worth approximately $28,000. Farther Finance Advisors LLC purchased a new position in iShares U.S. Financial Services ETF in the fourth quarter worth $29,000. Highland Investment Advisors LLC purchased a new position in iShares U.S. Financial Services ETF during the 2nd quarter worth $34,000. Finally, Capital Advisors Ltd. LLC raised its stake in iShares U.S. Financial Services ETF by 49.8% in the first quarter. Capital Advisors Ltd. LLC now owns 379 shares of the company’s stock valued at $31,000 after buying an additional 126 shares during the last quarter.

About iShares U.S. Financial Services ETF

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded 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. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.