iShares U.S. Energy ETF (NYSEARCA:IYE) Sets New 12-Month High – Time to Buy?

Shares of iShares U.S. Energy ETF (NYSEARCA:IYE) reached a new 52-week high on Friday. The company traded as high as $75.00 and last traded at $64.9360, with a volume of 610 shares trading hands. The stock had previously closed at $65.15.

iShares U.S. Energy ETF Stock Up 0.6%

The stock has a fifty day simple moving average of $68.59 and a 200 day simple moving average of $62.38. The firm has a market capitalization of $1.64 billion, a P/E ratio of 15.53 and a beta of 0.45.

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

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

iShares U.S. Energy ETF Company Profile

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.