iShares U.S. Financial Services ETF (NYSEARCA:IYG) Hits New 12-Month High – Still a Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s share price hit a new 52-week high on Friday . The stock traded as high as $98.40 and last traded at $98.06, with a volume of 23480 shares changing hands. The stock had previously closed at $97.47.

iShares U.S. Financial Services ETF Trading Up 0.6%

The stock has a 50-day simple moving average of $94.88 and a 200-day simple moving average of $89.35. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 18.95 and a beta of 0.96.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

A number of hedge funds and other institutional investors have recently modified their holdings of IYG. Corient Private Wealth LP bought a new position in iShares U.S. Financial Services ETF in the 2nd quarter valued at about $215,000. XP Advisory US Inc. bought a new stake in shares of iShares U.S. Financial Services ETF during the 2nd quarter worth about $402,000. Highland Investment Advisors LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the 2nd quarter worth about $34,000. Focus Financial Network Inc. raised its position in shares of iShares U.S. Financial Services ETF by 4.8% during the 2nd quarter. Focus Financial Network Inc. now owns 23,235 shares of the company’s stock worth $2,102,000 after buying an additional 1,061 shares in the last quarter. Finally, Clark Asset Management LLC acquired a new stake in shares of iShares U.S. Financial Services ETF in the 2nd quarter worth approximately $238,000.

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.