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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) reached a new 52-week high on Friday . The company traded as high as $82.86 and last traded at $82.86, with a volume of 8845 shares. The stock had previously closed at $82.62.

iShares U.S. Financial Services ETF Price Performance

The company has a fifty day moving average price of $79.65 and a two-hundred day moving average price of $73.91. The company has a market capitalization of $1.68 billion, a P/E ratio of 5.95 and a beta of 0.91.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

A number of hedge funds have recently made changes to their positions in the stock. Southern Capital Advisors LLC increased its position in shares of iShares U.S. Financial Services ETF by 15.1% during the fourth quarter. Southern Capital Advisors LLC now owns 58,963 shares of the company’s stock worth $4,588,000 after buying an additional 7,724 shares during the period. Fifth Third Securities Inc. boosted its position in iShares U.S. Financial Services ETF by 4.7% during the fourth quarter. Fifth Third Securities Inc. now owns 22,636 shares of the company’s stock valued at $1,761,000 after acquiring an additional 1,012 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in iShares U.S. Financial Services ETF during the 4th quarter worth about $233,000. Kingswood Wealth Advisors LLC bought a new position in shares of iShares U.S. Financial Services ETF in the 4th quarter worth about $550,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of iShares U.S. Financial Services ETF by 5.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 21,756 shares of the company’s stock valued at $1,693,000 after purchasing an additional 1,110 shares during the period.

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.