iShares U.S. Financials ETF (NYSEARCA:IYF) Sees Unusually-High Trading Volume – Time to Buy?

Shares of iShares U.S. Financials ETF (NYSEARCA:IYF) saw unusually-strong trading volume on Thursday. Approximately 495,636 shares traded hands during trading, an increase of 33% from the average daily volume of 371,611 shares. The stock last traded at $136.5010 and had previously closed at $136.71.

iShares U.S. Financials ETF Trading Down 2.8%

The firm has a 50-day moving average price of $131.33 and a 200-day moving average price of $127.73. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 16.42 and a beta of 0.89.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Lido Advisors LLC bought a new stake in iShares U.S. Financials ETF in the 3rd quarter valued at $558,000. Csenge Advisory Group boosted its position in iShares U.S. Financials ETF by 11.0% during the third quarter. Csenge Advisory Group now owns 7,899 shares of the company’s stock worth $993,000 after purchasing an additional 783 shares during the period. Gables Capital Management Inc. boosted its position in iShares U.S. Financials ETF by 4.4% during the third quarter. Gables Capital Management Inc. now owns 1,900 shares of the company’s stock worth $239,000 after purchasing an additional 80 shares during the period. StoneX Group Inc. bought a new position in iShares U.S. Financials ETF during the third quarter worth $357,000. Finally, Allen Investment Management LLC acquired a new position in shares of iShares U.S. Financials ETF in the third quarter valued at $1,991,000.

About iShares U.S. Financials ETF

iShares U.S. Financials ETF, formerly iShares Dow Jones U.S. Financial Sector Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial sector of the United States equity market, and includes companies in industry groups, such as banks, non-life insurance, life insurance, real estate and general finance. The Company invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.