iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Large Volume Increase – Still a Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG) shares saw unusually-high trading volume on Friday . Approximately 474,521 shares changed hands during mid-day trading, an increase of 450% from the previous session’s volume of 86,353 shares.The stock last traded at $90.7090 and had previously closed at $90.39.

iShares U.S. Financial Services ETF Trading Up 0.4%

The business has a 50 day moving average of $88.23 and a 200-day moving average of $86.78. The stock has a market cap of $1.96 billion, a PE ratio of 18.95 and a beta of 1.11.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Anfield Capital Management LLC purchased a new stake in shares of iShares U.S. Financial Services ETF in the 1st quarter worth about $9,867,000. Kozak & Associates Inc. increased its position in iShares U.S. Financial Services ETF by 30.8% during the third quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock worth $35,875,000 after buying an additional 98,267 shares in the last quarter. PGIM Custom Harvest LLC raised its holdings in shares of iShares U.S. Financial Services ETF by 42.2% in the second quarter. PGIM Custom Harvest LLC now owns 305,036 shares of the company’s stock worth $26,111,000 after acquiring an additional 90,472 shares during the last quarter. Ameriprise Financial Inc. grew its stake in iShares U.S. Financial Services ETF by 79.4% during the third quarter. Ameriprise Financial Inc. now owns 188,153 shares of the company’s stock worth $16,853,000 after buying an additional 83,297 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of iShares U.S. Financial Services ETF by 262.5% in the third quarter. NewEdge Advisors LLC now owns 49,656 shares of the company’s stock worth $4,451,000 after acquiring an additional 35,959 shares in the last quarter.

iShares U.S. Financial Services ETF Company Profile

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.