iShares U.S. Financial Services ETF (NYSEARCA:IYG) Reaches New 52-Week High – Time to Buy?

Shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) reached a new 52-week high on Monday . The company traded as high as $95.25 and last traded at $95.4190, with a volume of 32542 shares. The stock had previously closed at $92.87.

iShares U.S. Financial Services ETF Stock Performance

The firm’s 50-day moving average price is $90.17 and its two-hundred day moving average price is $88.58. The firm has a market cap of $2.10 billion, a PE ratio of 18.95 and a beta of 1.11.

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

Hedge funds have recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of iShares U.S. Financial Services ETF in the 3rd quarter valued at about $26,000. Evolution Wealth Management Inc. purchased a new stake in iShares U.S. Financial Services ETF in the second quarter valued at approximately $36,000. Smartleaf Asset Management LLC purchased a new stake in iShares U.S. Financial Services ETF in the third quarter valued at approximately $36,000. AlphaCore Capital LLC boosted its holdings in shares of iShares U.S. Financial Services ETF by 1,173.2% in the second quarter. AlphaCore Capital LLC now owns 522 shares of the company’s stock valued at $45,000 after acquiring an additional 481 shares during the period. Finally, Mather Group LLC. acquired a new stake in shares of iShares U.S. Financial Services ETF in the third quarter valued at approximately $49,000.

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.