iShares U.S. Transportation ETF (BATS:IYT) Reaches New 12-Month High – Time to Buy?

iShares U.S. Transportation ETF (BATS:IYT)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $88.78 and last traded at $88.73, with a volume of 62037 shares trading hands. The stock had previously closed at $88.12.

iShares U.S. Transportation ETF Price Performance

The firm has a market cap of $893.14 million, a price-to-earnings ratio of 16.05 and a beta of 1.25. The firm has a fifty day simple moving average of $83.96 and a two-hundred day simple moving average of $79.98.

Hedge Funds Weigh In On iShares U.S. Transportation ETF

Several hedge funds and other institutional investors have recently modified their holdings of IYT. BNP Paribas Financial Markets boosted its stake in iShares U.S. Transportation ETF by 205,850.0% in the 4th quarter. BNP Paribas Financial Markets now owns 350,115 shares of the exchange traded fund’s stock worth $26,087,000 after purchasing an additional 349,945 shares in the last quarter. Two Sigma Investments LP grew its position in iShares U.S. Transportation ETF by 1,296.9% during the 3rd quarter. Two Sigma Investments LP now owns 273,800 shares of the exchange traded fund’s stock worth $19,634,000 after purchasing an additional 254,200 shares during the last quarter. Wells Fargo & Company MN increased its stake in iShares U.S. Transportation ETF by 60.1% during the 4th quarter. Wells Fargo & Company MN now owns 359,247 shares of the exchange traded fund’s stock valued at $26,767,000 after purchasing an additional 134,924 shares in the last quarter. Millennium Management LLC acquired a new position in iShares U.S. Transportation ETF during the 4th quarter valued at approximately $8,338,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of iShares U.S. Transportation ETF in the third quarter worth $7,058,000.

About iShares U.S. Transportation ETF

iShares Transportation Average ETF (the Fund), formerly iShares Dow Jones Transportation Average Index Fund, is an exchange-traded fund (ETF). The Fund seek investment results that correspond generally to the price and yield performance, before fees and expenses, of Dow Jones Transportation Average Index. The Index measures the performance of the transportation sector of the United States equity market, and includes companies in the primary groups, such as airlines, trucking, railroads, air freight, transportation services and industrial services.