iShares U.S. Financial Services ETF (NYSEARCA:IYG) Hits New 52-Week High – Time to Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $80.68 and last traded at $80.63, with a volume of 16042 shares changing hands. The stock had previously closed at $79.48.

iShares U.S. Financial Services ETF Stock Performance

The company has a 50 day simple moving average of $73.93 and a two-hundred day simple moving average of $69.45. The company has a market cap of $1.63 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. Envestnet Asset Management Inc. lifted its holdings in iShares U.S. Financial Services ETF by 12.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,509,858 shares of the company’s stock worth $98,458,000 after purchasing an additional 161,646 shares during the last quarter. RiverFront Investment Group LLC lifted its holdings in iShares U.S. Financial Services ETF by 2.7% in the 2nd quarter. RiverFront Investment Group LLC now owns 1,448,241 shares of the company’s stock worth $94,440,000 after purchasing an additional 38,283 shares during the last quarter. Raymond James & Associates lifted its holdings in iShares U.S. Financial Services ETF by 14.5% in the 2nd quarter. Raymond James & Associates now owns 564,529 shares of the company’s stock worth $36,813,000 after purchasing an additional 71,320 shares during the last quarter. Baltimore Washington Financial Advisors Inc. lifted its holdings in iShares U.S. Financial Services ETF by 2.2% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 381,794 shares of the company’s stock worth $27,115,000 after purchasing an additional 8,367 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in iShares U.S. Financial Services ETF by 7,787.3% in the 3rd quarter. International Assets Investment Management LLC now owns 260,834 shares of the company’s stock worth $18,524,000 after purchasing an additional 257,527 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.