iShares U.S. Financials ETF (NYSEARCA:IYF) Sets New 52-Week High – Time to Buy?
by Amy Steele · The Cerbat GemiShares U.S. Financials ETF (NYSEARCA:IYF – Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $130.54 and last traded at $130.4990, with a volume of 48859 shares. The stock had previously closed at $128.72.
iShares U.S. Financials ETF Stock Performance
The business has a fifty day moving average of $124.84 and a two-hundred day moving average of $123.41. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 16.42 and a beta of 1.02.
Hedge Funds Weigh In On iShares U.S. Financials ETF
Large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of iShares U.S. Financials ETF by 5.7% during the 3rd quarter. Bank of America Corp DE now owns 1,586,519 shares of the company’s stock worth $200,917,000 after buying an additional 86,197 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in iShares U.S. Financials ETF by 1,366.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,498,231 shares of the company’s stock valued at $169,075,000 after acquiring an additional 1,396,090 shares during the period. Goldman Sachs Group Inc. lifted its position in iShares U.S. Financials ETF by 12.7% during the first quarter. Goldman Sachs Group Inc. now owns 929,654 shares of the company’s stock worth $104,911,000 after acquiring an additional 105,022 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of iShares U.S. Financials ETF by 1.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 701,987 shares of the company’s stock worth $84,933,000 after acquiring an additional 13,109 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of iShares U.S. Financials ETF by 1,275.8% during the third quarter. Bank of Montreal Can now owns 699,898 shares of the company’s stock worth $88,635,000 after acquiring an additional 649,026 shares during the period.
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.