iShares U.S. Energy ETF (NYSEARCA:IYE) Sets New 1-Year High – Here’s Why

iShares U.S. Energy ETF (NYSEARCA:IYE) shares reached a new 52-week high during trading on Friday . The stock traded as high as $59.22 and last traded at $59.0030, with a volume of 936597 shares changing hands. The stock had previously closed at $58.16.

iShares U.S. Energy ETF Trading Up 1.5%

The company has a market cap of $1.44 billion, a price-to-earnings ratio of 15.53 and a beta of 0.78. The stock has a 50-day simple moving average of $52.65 and a 200-day simple moving average of $49.12.

Institutional Trading of iShares U.S. Energy ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AlphaCore Capital LLC grew its position in iShares U.S. Energy ETF by 1,303.5% during the 2nd quarter. AlphaCore Capital LLC now owns 3,635 shares of the company’s stock worth $164,000 after purchasing an additional 3,376 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of iShares U.S. Energy ETF by 242.3% in 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. Journey Strategic Wealth LLC boosted its position in shares of iShares U.S. Energy ETF by 43.7% in the second quarter. Journey Strategic Wealth LLC now owns 22,817 shares of the company’s stock worth $1,032,000 after buying an additional 6,939 shares during the period. Bank of Montreal Can grew its holdings in shares of iShares U.S. Energy ETF by 131.5% during the second quarter. Bank of Montreal Can now owns 8,486 shares of the company’s stock valued at $384,000 after buying an additional 4,820 shares in the last quarter. Finally, Prospera Financial Services Inc raised its position in iShares U.S. Energy ETF by 2.8% during the second quarter. Prospera Financial Services Inc now owns 59,987 shares of the company’s stock valued at $2,713,000 after buying an additional 1,657 shares during the period. Institutional investors own 52.46% of the company’s stock.

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.