iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Reaches New 12-Month High – What’s Next?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.92 and last traded at $63.90, with a volume of 6771 shares trading hands. The stock had previously closed at $63.36.

iShares U.S. Regional Banks ETF Price Performance

The stock has a 50-day moving average price of $59.50 and a 200-day moving average price of $57.81. The company has a market capitalization of $684.05 million, a price-to-earnings ratio of 12.39 and a beta of 0.88.

Institutional Investors Weigh In On iShares U.S. Regional Banks ETF

Several hedge funds have recently added to or reduced their stakes in IAT. NewEdge Advisors LLC raised its position in shares of iShares U.S. Regional Banks ETF by 6.1% in the first quarter. NewEdge Advisors LLC now owns 8,282 shares of the company’s stock valued at $386,000 after purchasing an additional 475 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of iShares U.S. Regional Banks ETF by 11.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,762 shares of the company’s stock worth $8,895,000 after buying an additional 19,870 shares during the period. Marshall Wace LLP boosted its holdings in shares of iShares U.S. Regional Banks ETF by 11.1% during the 2nd quarter. Marshall Wace LLP now owns 35,671 shares of the company’s stock worth $1,767,000 after buying an additional 3,553 shares during the period. Cerity Partners LLC acquired a new position in iShares U.S. Regional Banks ETF in the 2nd quarter valued at about $217,000. Finally, Lighthouse Investment Partners LLC acquired a new position in iShares U.S. Regional Banks ETF in the 2nd quarter valued at about $555,000.

About iShares U.S. Regional Banks ETF

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.