iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Strong Trading Volume – Here’s What Happened

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw unusually-high trading volume on Wednesday . Approximately 350,109 shares changed hands during trading, an increase of 189% from the previous session’s volume of 121,077 shares.The stock last traded at $86.88 and had previously closed at $85.91.

iShares U.S. Financial Services ETF Price Performance

The company has a 50-day moving average of $85.08 and a two-hundred day moving average of $88.22. The stock has a market capitalization of $1.99 billion, a PE ratio of 18.95 and a beta of 0.98.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in IYG. Centerline Wealth Advisors LLC acquired a new stake in iShares U.S. Financial Services ETF during the 4th quarter valued at approximately $4,686,000. Baltimore Washington Financial Advisors Inc. grew its stake in iShares U.S. Financial Services ETF by 2.8% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 404,827 shares of the company’s stock valued at $36,289,000 after purchasing an additional 11,164 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in iShares U.S. Financial Services ETF during the 4th quarter valued at approximately $1,177,000. Unique Wealth LLC acquired a new stake in iShares U.S. Financial Services ETF during the 4th quarter valued at approximately $5,518,000. Finally, Private Advisor Group LLC grew its stake in iShares U.S. Financial Services ETF by 4.9% during the 3rd quarter. Private Advisor Group LLC now owns 171,228 shares of the company’s stock valued at $15,349,000 after purchasing an additional 8,043 shares in 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.