iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Stock Price Down 1.4% – Here’s Why

iShares U.S. Regional Banks ETF (NYSEARCA:IAT)’s stock price dropped 1.4% during mid-day trading on Wednesday . The stock traded as low as $57.73 and last traded at $57.85. 135,969 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 232,141 shares. The stock had previously closed at $58.65.

iShares U.S. Regional Banks ETF Stock Down 1.4%

The company has a market capitalization of $610.32 million, a P/E ratio of 12.39 and a beta of 0.87. The company has a 50-day moving average of $62.87 and a two-hundred day moving average of $59.48.

Institutional Trading of iShares U.S. Regional Banks ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC lifted its holdings in shares of iShares U.S. Regional Banks ETF by 16.0% in the second quarter. NewEdge Advisors LLC now owns 2,250 shares of the company’s stock worth $140,000 after buying an additional 310 shares in the last quarter. Group One Trading LLC bought a new stake in iShares U.S. Regional Banks ETF in the 1st quarter valued at $25,000. Breakwater Capital Group increased its holdings in iShares U.S. Regional Banks ETF by 12.0% in the 2nd quarter. Breakwater Capital Group now owns 5,552 shares of the company’s stock valued at $345,000 after acquiring an additional 594 shares during the last quarter. KCM Investment Advisors LLC lifted its stake in iShares U.S. Regional Banks ETF by 1.3% in the 4th quarter. KCM Investment Advisors LLC now owns 57,077 shares of the company’s stock worth $3,148,000 after purchasing an additional 742 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of iShares U.S. Regional Banks ETF by 75.2% during the 1st quarter. International Assets Investment Management LLC now owns 1,785 shares of the company’s stock valued at $97,000 after purchasing an additional 766 shares during the last quarter.

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.