iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sees Large Volume Increase – Still a Buy?

Shares of iShares U.S. Regional Banks ETF (NYSEARCA:IAT – Get Free Report) saw strong trading volume on Tuesday. 218,324 shares traded hands during trading, a decline of 7% from the previous session’s volume of 233,853 shares. The stock last traded at $57.9720 and had previously closed at $57.09.

iShares U.S. Regional Banks ETF Price Performance

The firm has a market capitalization of $625.12 million, a price-to-earnings ratio of 12.39 and a beta of 0.92. The business’s fifty day simple moving average is $60.45 and its 200 day simple moving average is $60.06.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

A number of institutional investors and hedge funds have recently made changes to their positions in IAT. Bank of America Corp DE increased its holdings in shares of iShares U.S. Regional Banks ETF by 23.0% during the first quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock valued at $28,060,000 after acquiring an additional 97,510 shares in the last quarter. Lido Advisors LLC bought a new position in shares of iShares U.S. Regional Banks ETF in the 1st quarter worth $10,280,000. KCM Investment Advisors LLC grew its position in iShares U.S. Regional Banks ETF by 2.4% in the 1st quarter. KCM Investment Advisors LLC now owns 58,452 shares of the company’s stock valued at $3,147,000 after purchasing an additional 1,375 shares during the period. Westwind Capital grew its position in iShares U.S. Regional Banks ETF by 8.5% in the 3rd quarter. Westwind Capital now owns 40,076 shares of the company’s stock valued at $2,293,000 after purchasing an additional 3,142 shares during the period. Finally, Renaissance Technologies LLC grew its position in iShares U.S. Regional Banks ETF by 142.4% in the 1st quarter. Renaissance Technologies LLC now owns 22,300 shares of the company’s stock valued at $1,201,000 after purchasing an additional 13,100 shares during the period.

About iShares U.S. Regional Banks ETF

(Get Free Report)

The iShares U.S. Regional Banks ETF (IAT) seeks to track the investment results of the Dow Jones U.S. Select Regional Banks Index. The fund provides targeted exposure to small- and mid-sized U.S. banks. The index uses a float-adjusted market-capitalization weighting methodology, meaning larger holdings have a greater influence on performance. Launched on May 1, 2006, the fund is managed by BlackRock Fund Advisors.

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