iShares U.S. Financials ETF (NYSEARCA:IYF) Sets New 12-Month High – Still a Buy?

iShares U.S. Financials ETF (NYSEARCA:IYF) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $138.54 and last traded at $138.28, with a volume of 5967 shares trading hands. The stock had previously closed at $137.37.

iShares U.S. Financials ETF Price Performance

The firm has a market capitalization of $4.67 billion, a P/E ratio of 16.42 and a beta of 0.89. The stock’s fifty day simple moving average is $131.66 and its 200 day simple moving average is $125.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in iShares U.S. Financials ETF in the first quarter valued at approximately $426,000. Integrated Wealth Concepts LLC increased its position in shares of iShares U.S. Financials ETF by 45.7% during the first quarter. Integrated Wealth Concepts LLC now owns 4,282 shares of the company’s stock worth $483,000 after purchasing an additional 1,343 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of iShares U.S. Financials ETF during the first quarter worth $247,000. Focus Partners Wealth lifted its holdings in shares of iShares U.S. Financials ETF by 8.6% during the 1st quarter. Focus Partners Wealth now owns 2,093 shares of the company’s stock valued at $236,000 after purchasing an additional 165 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of iShares U.S. Financials ETF by 33.7% during the 2nd quarter. First Trust Advisors LP now owns 2,557 shares of the company’s stock valued at $309,000 after purchasing an additional 645 shares during the last quarter.

iShares U.S. Financials ETF Company Profile

iShares U.S. Financials ETF, formerly iShares Dow Jones U.S. Financial Sector Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial sector of the United States equity market, and includes companies in industry groups, such as banks, non-life insurance, life insurance, real estate and general finance. The Company invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.