iShares MSCI USA Equal Weighted ETF (NYSEARCA:EUSA) Hits New 1-Year High – Still a Buy?

Shares of iShares MSCI USA Equal Weighted ETF (NYSEARCA:EUSA) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $111.97 and last traded at $111.97, with a volume of 7627 shares changing hands. The stock had previously closed at $111.50.

iShares MSCI USA Equal Weighted ETF Stock Performance

The stock’s 50-day moving average price is $106.37 and its 200-day moving average price is $105.47. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 20.72 and a beta of 0.97.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EUSA. Palladiem LLC purchased a new position in shares of iShares MSCI USA Equal Weighted ETF during the 4th quarter worth approximately $8,284,000. Calydon Capital increased its stake in shares of iShares MSCI USA Equal Weighted ETF by 37.5% during the 4th quarter. Calydon Capital now owns 283,196 shares of the company’s stock worth $29,274,000 after purchasing an additional 77,244 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of iShares MSCI USA Equal Weighted ETF by 8.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 539,349 shares of the company’s stock worth $55,537,000 after purchasing an additional 40,568 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of iShares MSCI USA Equal Weighted ETF during the 4th quarter worth approximately $1,575,000. Finally, Sunbelt Securities Inc. increased its stake in shares of iShares MSCI USA Equal Weighted ETF by 26.5% during the 1st quarter. Sunbelt Securities Inc. now owns 62,653 shares of the company’s stock worth $6,376,000 after purchasing an additional 13,142 shares in the last quarter.

About iShares MSCI USA Equal Weighted ETF

iShares MSCI USA ETF, formerly iShares MSCI USA Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment resulte that correspond to the price and yield performance of the MSCI USA Index (the Underlying Index). The Underlying Index is a market capitalization weighted index designed to measure the performance of equity securities in the 85% by market capitalization of equity securities listed on stock exchanges in the United States. The Fund invests at least 90% of its assets in the securities of the Underlying Index and in depositary receipts representing securities of the Underlying Index.