iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sets New 1-Year High – Should You Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG) reached a new 52-week high on Thursday . The company traded as high as $84.63 and last traded at $84.63, with a volume of 39400 shares trading hands. The stock had previously closed at $83.90.

iShares U.S. Financial Services ETF Price Performance

The stock has a market cap of $1.70 billion, a P/E ratio of 5.95 and a beta of 0.91. The company has a 50 day simple moving average of $80.26 and a 200-day simple moving average of $75.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its holdings in shares of iShares U.S. Financial Services ETF by 7.9% during the 4th quarter. HighTower Advisors LLC now owns 52,367 shares of the company’s stock valued at $4,075,000 after purchasing an additional 3,839 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of iShares U.S. Financial Services ETF in the 4th quarter valued at about $244,000. Independent Advisor Alliance purchased a new stake in iShares U.S. Financial Services ETF during the 4th quarter valued at about $9,902,000. Raymond James Financial Inc. bought a new position in iShares U.S. Financial Services ETF during the 4th quarter worth approximately $43,292,000. Finally, Jones Financial Companies Lllp grew its position in iShares U.S. Financial Services ETF by 45.8% during the 4th quarter. Jones Financial Companies Lllp now owns 17,156 shares of the company’s stock worth $1,335,000 after acquiring an additional 5,387 shares during the last quarter.

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.