iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sets New 12-Month High – Here’s Why

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $82.76 and last traded at $82.76, with a volume of 5072 shares. The stock had previously closed at $82.06.

iShares U.S. Financial Services ETF Stock Up 0.3 %

The firm’s fifty day moving average is $74.86 and its 200-day moving average is $69.93. The stock has a market capitalization of $1.66 billion, a PE ratio of 5.95 and a beta of 0.91.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

Several institutional investors have recently made changes to their positions in IYG. Commerce Bank boosted its holdings in iShares U.S. Financial Services ETF by 5.4% during the third quarter. Commerce Bank now owns 3,954 shares of the company’s stock worth $281,000 after buying an additional 204 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in iShares U.S. Financial Services ETF by 6.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,507 shares of the company’s stock worth $249,000 after buying an additional 213 shares in the last quarter. Wetzel Investment Advisors Inc. boosted its holdings in iShares U.S. Financial Services ETF by 5.5% during the third quarter. Wetzel Investment Advisors Inc. now owns 4,157 shares of the company’s stock worth $295,000 after buying an additional 215 shares in the last quarter. Carnegie Investment Counsel grew its position in shares of iShares U.S. Financial Services ETF by 5.2% in the third quarter. Carnegie Investment Counsel now owns 5,188 shares of the company’s stock valued at $368,000 after purchasing an additional 255 shares during the last quarter. Finally, AMG National Trust Bank grew its position in shares of iShares U.S. Financial Services ETF by 3.0% in the second quarter. AMG National Trust Bank now owns 9,212 shares of the company’s stock valued at $601,000 after purchasing an additional 272 shares during the last quarter.

About iShares U.S. Financial Services ETF

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.