iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Hits New 52-Week High – Here’s Why

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.92 and last traded at $63.92, with a volume of 1341 shares changing hands. The stock had previously closed at $62.75.

iShares U.S. Regional Banks ETF Stock Performance

The stock has a market capitalization of $671.09 million, a price-to-earnings ratio of 12.39 and a beta of 0.88. The business has a fifty day simple moving average of $58.81 and a 200 day simple moving average of $57.47.

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

Several institutional investors and hedge funds have recently modified their holdings of IAT. Lido Advisors LLC bought a new stake in iShares U.S. Regional Banks ETF in the 1st quarter valued at about $10,280,000. Two Sigma Investments LP boosted its holdings in shares of iShares U.S. Regional Banks ETF by 154.3% in the 3rd quarter. Two Sigma Investments LP now owns 193,000 shares of the company’s stock valued at $10,138,000 after purchasing an additional 117,100 shares in the last quarter. Bank of America Corp DE grew its position in iShares U.S. Regional Banks ETF by 23.0% in the first quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock valued at $28,060,000 after acquiring an additional 97,510 shares during the last quarter. Jain Global LLC bought a new stake in shares of iShares U.S. Regional Banks ETF during the 3rd quarter valued at approximately $3,544,000. Finally, Equitable Holdings Inc. bought a new stake in shares of iShares U.S. Regional Banks ETF during the fourth quarter worth $2,719,000.

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.