iShares U.S. Energy ETF (NYSEARCA:IYE) Sets New 52-Week High – Time to Buy?

iShares U.S. Energy ETF (NYSEARCA:IYE) hit a new 52-week high during trading on Monday. The stock traded as high as $73.31 and last traded at $72.7250, with a volume of 1,135,259 shares. The stock had previously closed at $72.93.

iShares U.S. Energy ETF Price Performance

The company has a fifty day moving average of $67.89 and a 200 day moving average of $63.24. The firm has a market capitalization of $1.83 billion, a P/E ratio of 15.53 and a beta of 0.51.

Institutional Trading of iShares U.S. Energy ETF

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of iShares U.S. Energy ETF by 56.6% in the first quarter. Bank of America Corp DE now owns 1,526,984 shares of the company’s stock worth $98,903,000 after buying an additional 551,736 shares in the last quarter. Royal Bank of Canada grew its stake in iShares U.S. Energy ETF by 8.5% in the first quarter. Royal Bank of Canada now owns 387,503 shares of the company’s stock worth $25,100,000 after purchasing an additional 30,333 shares during the period. Three Seasons Wealth LLC increased its holdings in shares of iShares U.S. Energy ETF by 422.2% in the 2nd quarter. Three Seasons Wealth LLC now owns 337,812 shares of the company’s stock worth $19,117,000 after purchasing an additional 273,118 shares in the last quarter. Summit Financial Consulting LLC lifted its holdings in iShares U.S. Energy ETF by 3.1% in the third quarter. Summit Financial Consulting LLC now owns 135,494 shares of the company’s stock valued at $8,780,000 after acquiring an additional 4,059 shares during the period. Finally, WealthCare Asset Management LLC bought a new position in shares of iShares U.S. Energy ETF in the first quarter worth about $8,408,000. 52.46% of the stock is currently owned by institutional investors.

About iShares U.S. Energy ETF

iShares U.S. Energy ETF (the Fund), formerly iShares Dow Jones U.S. Energy Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Oil & Gas Index (the Index). The Index measures the performance of the oil and gas sector of the United States equity market, and includes companies in industry groups, such as oil and gas producers, and oil equipment, services and distribution. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.