iShares U.S. Telecommunications ETF (BATS:IYZ) Sets New 52-Week High – Still a Buy?

iShares U.S. Telecommunications ETF (BATS:IYZ)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $43.54 and last traded at $43.04, with a volume of 861773 shares trading hands. The stock had previously closed at $43.23.

iShares U.S. Telecommunications ETF Stock Performance

The company’s fifty day simple moving average is $39.92 and its two-hundred day simple moving average is $35.75. The stock has a market capitalization of $794.09 million, a PE ratio of 14.09 and a beta of 0.90.

Hedge Funds Weigh In On iShares U.S. Telecommunications ETF

Several hedge funds have recently added to or reduced their stakes in the business. Lee Johnson Capital Management LLC purchased a new position in iShares U.S. Telecommunications ETF during the 1st quarter valued at about $1,650,000. Corient Private Wealth LLC increased its holdings in iShares U.S. Telecommunications ETF by 96.3% during the 4th quarter. Corient Private Wealth LLC now owns 35,531 shares of the exchange traded fund’s stock valued at $1,205,000 after acquiring an additional 17,434 shares in the last quarter. SHP Wealth Management purchased a new position in iShares U.S. Telecommunications ETF during the 4th quarter valued at about $688,000. Reflection Asset Management purchased a new position in iShares U.S. Telecommunications ETF during the 4th quarter valued at about $64,000. Finally, Astoria Portfolio Advisors LLC. increased its holdings in iShares U.S. Telecommunications ETF by 11.4% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 21,545 shares of the exchange traded fund’s stock valued at $730,000 after acquiring an additional 2,211 shares in the last quarter.

iShares U.S. Telecommunications ETF Company Profile

iShares U.S. Telecommunications ETF (the Fund), formerly iShares Dow Jones U.S. Telecommunications Sector Index Fund, is a non-diversified 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. Select Telecommunications Index (the Index). The Index measures the performance of the telecommunications sector of the United States equity market, and includes companies in the industry groups, such as fixed-line telecommunications and mobile telecommunications.