iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Hits New 1-Year High – Here’s Why

iShares U.S. Regional Banks ETF (NYSEARCA:IAT)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $63.07 and last traded at $63.04, with a volume of 70269 shares. The stock had previously closed at $62.21.

iShares U.S. Regional Banks ETF Price Performance

The company has a market capitalization of $678.49 million, a price-to-earnings ratio of 12.39 and a beta of 0.89. The business has a fifty day moving average price of $58.45 and a 200 day moving average price of $57.27.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in IAT. Bank of America Corp DE lifted its holdings in shares of iShares U.S. Regional Banks ETF by 23.0% during the 1st quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock worth $28,060,000 after acquiring an additional 97,510 shares during the period. Wells Fargo & Company MN raised its position in iShares U.S. Regional Banks ETF by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 481,700 shares of the company’s stock worth $26,566,000 after purchasing an additional 16,723 shares in the last quarter. JPMorgan Chase & Co. raised its position in iShares U.S. Regional Banks ETF by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 375,804 shares of the company’s stock worth $19,741,000 after purchasing an additional 15,185 shares in the last quarter. Two Sigma Investments LP lifted its stake in iShares U.S. Regional Banks ETF by 154.3% during the third quarter. Two Sigma Investments LP now owns 193,000 shares of the company’s stock worth $10,138,000 after purchasing an additional 117,100 shares during the period. Finally, Lido Advisors LLC acquired a new stake in iShares U.S. Regional Banks ETF during the first quarter valued at approximately $10,280,000.

iShares U.S. Regional Banks ETF Company Profile

The iShares U.S. Regional Banks ETF (IAT) is an exchange-traded fund that is based on the DJ US Select \u002F Regional Banks index. The fund tracks the performance of an index of small- and mid-cap regional banks. IAT was launched on May 1, 2006 and is managed by BlackRock.