iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sets New 1-Year High – Should You Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $82.86 and last traded at $82.86, with a volume of 8845 shares. The stock had previously closed at $82.62.

iShares U.S. Financial Services ETF Price Performance

The business’s 50 day simple moving average is $79.77 and its 200 day simple moving average is $74.09. The stock has a market cap of $1.67 billion, a P/E ratio of 5.95 and a beta of 0.91.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Avengers Inc. bought a new stake in iShares U.S. Financial Services ETF during the third quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of iShares U.S. Financial Services ETF in the 3rd quarter worth approximately $38,000. EP Wealth Advisors LLC grew its position in iShares U.S. Financial Services ETF by 28.2% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,247 shares of the company’s stock worth $160,000 after acquiring an additional 494 shares during the last quarter. Magnus Financial Group LLC acquired a new stake in iShares U.S. Financial Services ETF during the 4th quarter valued at $205,000. Finally, Capital Investment Advisors LLC bought a new position in iShares U.S. Financial Services ETF in the 3rd quarter valued at $201,000.

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.