iShares U.S. Home Construction ETF (BATS:ITB) Reaches New 1-Year Low – What’s Next?

iShares U.S. Home Construction ETF (BATS:ITB)’s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $82.11 and last traded at $82.3680, with a volume of 1,318,823 shares changing hands. The stock had previously closed at $84.64.

iShares U.S. Home Construction ETF Trading Down 2.3%

The firm has a market cap of $1.90 billion, a P/E ratio of 10.18 and a beta of 1.31. The company’s 50 day simple moving average is $92.26 and its 200-day simple moving average is $94.32.

iShares U.S. Home Construction ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 15th were paid a $0.2104 dividend. This is an increase from iShares U.S. Home Construction ETF’s previous quarterly dividend of $0.1592. The ex-dividend date was Tuesday, September 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.0%.

Institutional Trading of iShares U.S. Home Construction ETF

Several large investors have recently added to or reduced their stakes in the business. Forte Asset Management LLC raised its holdings in iShares U.S. Home Construction ETF by 21.5% in the 3rd quarter. Forte Asset Management LLC now owns 44,117 shares of the exchange traded fund’s stock worth $3,839,000 after purchasing an additional 7,799 shares during the period. Titleist Asset Management LLC lifted its position in shares of iShares U.S. Home Construction ETF by 6.3% in the third quarter. Titleist Asset Management LLC now owns 10,535 shares of the exchange traded fund’s stock valued at $917,000 after acquiring an additional 622 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of iShares U.S. Home Construction ETF in the third quarter worth about $1,590,000. Envestnet Asset Management Inc. boosted its stake in shares of iShares U.S. Home Construction ETF by 31.6% in the second quarter. Envestnet Asset Management Inc. now owns 28,599 shares of the exchange traded fund’s stock worth $2,988,000 after acquiring an additional 6,868 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of iShares U.S. Home Construction ETF in the second quarter worth about $207,000.

About iShares U.S. Home Construction ETF

iShares U.S. Home Construction ETF, formerly iShares Dow Jones U.S. Home Construction Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Home Construction Index (the Index). The Index measures the performance of the home construction sector of the United States equity market, and includes companies that are constructors of residential homes, including manufacturers of mobile and prefabricated homes. The Company invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.