iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sets New 52-Week High – Time to Buy?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $50.84 and last traded at $50.42, with a volume of 61514 shares trading hands. The stock had previously closed at $49.69.

iShares U.S. Regional Banks ETF Trading Up 1.3 %

The company has a 50-day moving average of $47.84 and a 200-day moving average of $44.54. The company has a market capitalization of $724.61 million, a price-to-earnings ratio of 9.90 and a beta of 1.24.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Cultivar Capital Inc. acquired a new position in shares of iShares U.S. Regional Banks ETF in the second quarter valued at about $30,000. Farther Finance Advisors LLC acquired a new position in shares of iShares U.S. Regional Banks ETF in the third quarter valued at about $39,000. International Assets Investment Management LLC acquired a new position in shares of iShares U.S. Regional Banks ETF in the second quarter valued at about $56,000. Woodmont Investment Counsel LLC acquired a new position in shares of iShares U.S. Regional Banks ETF in the first quarter valued at about $152,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of iShares U.S. Regional Banks ETF by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,861 shares of the company’s stock valued at $162,000 after purchasing an additional 534 shares during the period.

iShares U.S. Regional Banks ETF Company Profile

The iShares U.S. Regional Banks ETF (IAT) is an exchange-traded fund that is based on the DJ US Select \u002F Regional Banks index. The fund tracks the performance of an index of small- and mid-cap regional banks. IAT was launched on May 1, 2006 and is managed by BlackRock.