iShares S&P 500 Value ETF (NYSEARCA:IVE) Reaches New 52-Week High – Still a Buy?

iShares S&P 500 Value ETF (NYSEARCA:IVE) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $242.25 and last traded at $241.9740, with a volume of 217,937 shares changing hands. The stock had previously closed at $238.33.

iShares S&P 500 Value ETF Trading Up 1.9%

The company has a market capitalization of $51.45 billion, a price-to-earnings ratio of 22.47 and a beta of 0.82. The firm’s 50 day simple moving average is $234.80 and its 200-day simple moving average is $226.35.

Institutional Trading of iShares S&P 500 Value ETF

Several hedge funds and other institutional investors have recently made changes to their positions in IVE. Bank of America Corp DE boosted its holdings in iShares S&P 500 Value ETF by 2.0% in the 1st quarter. Bank of America Corp DE now owns 9,457,775 shares of the company’s stock valued at $1,997,009,000 after purchasing an additional 182,358 shares in the last quarter. Lido Advisors LLC increased its position in iShares S&P 500 Value ETF by 4.4% during the 1st quarter. Lido Advisors LLC now owns 1,944,079 shares of the company’s stock worth $410,493,000 after purchasing an additional 81,088 shares during the period. Park Avenue Securities LLC increased its position in iShares S&P 500 Value ETF by 0.3% during the 3rd quarter. Park Avenue Securities LLC now owns 1,816,354 shares of the company’s stock worth $414,637,000 after purchasing an additional 5,323 shares during the period. Royal Bank of Canada raised its stake in shares of iShares S&P 500 Value ETF by 3.6% during the 1st quarter. Royal Bank of Canada now owns 1,396,602 shares of the company’s stock worth $294,892,000 after buying an additional 48,869 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC raised its stake in shares of iShares S&P 500 Value ETF by 3.8% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 1,197,963 shares of the company’s stock worth $252,950,000 after buying an additional 44,187 shares in the last quarter.

About iShares S&P 500 Value ETF

iShares S&P 500 Value ETF (the Fund), formerly iShares S&P 500 Value Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P 500 Value Index (the Index). The Index measures the performance of the large-capitalization value sector of the United States equity market and consists of those stocks in the S&P 500 exhibiting the strongest value characteristics. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Underlying Index.