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

Shares of iShares U.S. Regional Banks ETF (NYSEARCA:IAT) hit a new 52-week high during trading on Wednesday . The company traded as high as $55.66 and last traded at $55.57, with a volume of 36343 shares trading hands. The stock had previously closed at $54.93.

iShares U.S. Regional Banks ETF Price Performance

The business’s 50 day moving average price is $48.68 and its 200 day moving average price is $45.32. The stock has a market capitalization of $798.05 million, a P/E ratio of 9.90 and a beta of 1.24.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Magnolia Capital Advisors LLC acquired a new stake in iShares U.S. Regional Banks ETF during the 2nd quarter worth $5,590,000. Gimbal Financial purchased a new stake in iShares U.S. Regional Banks ETF in the 3rd quarter valued at about $4,280,000. International Assets Investment Management LLC boosted its holdings in iShares U.S. Regional Banks ETF by 4,667.4% in the third quarter. International Assets Investment Management LLC now owns 64,693 shares of the company’s stock valued at $3,076,000 after purchasing an additional 63,336 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in iShares U.S. Regional Banks ETF by 87.5% in the first quarter. Kingsview Wealth Management LLC now owns 58,423 shares of the company’s stock valued at $2,534,000 after purchasing an additional 27,257 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its holdings in iShares U.S. Regional Banks ETF by 4.3% in the third quarter. KCM Investment Advisors LLC now owns 51,762 shares of the company’s stock valued at $2,461,000 after purchasing an additional 2,113 shares in the last quarter.

About iShares U.S. Regional Banks ETF

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.