iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Large Volume Increase – Should You Buy?

Shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw strong trading volume on Wednesday . 363,384 shares were traded during trading, an increase of 193% from the previous session’s volume of 124,228 shares.The stock last traded at $86.83 and had previously closed at $87.53.

iShares U.S. Financial Services ETF Price Performance

The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 18.95 and a beta of 0.98. The business’s 50-day moving average price is $85.54 and its two-hundred day moving average price is $88.20.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of iShares U.S. Financial Services ETF by 234.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock valued at $95,176,000 after acquiring an additional 723,555 shares during the period. OpenArc Corporate Advisory LLC bought a new position in shares of iShares U.S. Financial Services ETF in the fourth quarter worth $55,635,000. Sagespring Wealth Partners LLC acquired a new position in iShares U.S. Financial Services ETF in the fourth quarter valued at about $53,175,000. Dynasty Wealth Management LLC acquired a new position in iShares U.S. Financial Services ETF in the fourth quarter valued at about $49,084,000. Finally, Kozak & Associates Inc. lifted its position in iShares U.S. Financial Services ETF by 30.8% during the third quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock worth $35,875,000 after purchasing an additional 98,267 shares during the period.

iShares U.S. Financial Services ETF Company Profile

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.