iShares U.S. Financials ETF (NYSEARCA:IYF) Reaches New 12-Month High – Still a Buy?

iShares U.S. Financials ETF (NYSEARCA:IYF) reached a new 52-week high on Wednesday . The stock traded as high as $116.06 and last traded at $115.81, with a volume of 57451 shares changing hands. The stock had previously closed at $115.08.

iShares U.S. Financials ETF Stock Performance

The company has a market cap of $3.19 billion, a price-to-earnings ratio of 16.14 and a beta of 0.84. The company has a fifty day moving average of $105.98 and a two-hundred day moving average of $100.02.

Institutional Investors Weigh In On iShares U.S. Financials ETF

A number of institutional investors have recently made changes to their positions in IYF. The Manufacturers Life Insurance Company boosted its position in shares of iShares U.S. Financials ETF by 28.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 769,351 shares of the company’s stock valued at $79,936,000 after purchasing an additional 170,769 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of iShares U.S. Financials ETF during the 2nd quarter valued at about $56,608,000. LPL Financial LLC boosted its position in shares of iShares U.S. Financials ETF by 21.0% during the 2nd quarter. LPL Financial LLC now owns 475,892 shares of the company’s stock valued at $45,005,000 after purchasing an additional 82,599 shares in the last quarter. Bank of Montreal Can raised its stake in iShares U.S. Financials ETF by 705.1% during the 3rd quarter. Bank of Montreal Can now owns 431,608 shares of the company’s stock worth $44,658,000 after buying an additional 377,999 shares during the period. Finally, Wulff Hansen & CO. raised its stake in iShares U.S. Financials ETF by 9,357.0% during the 2nd quarter. Wulff Hansen & CO. now owns 262,432 shares of the company’s stock worth $24,818,000 after buying an additional 259,657 shares during the period.

iShares U.S. Financials ETF Company Profile

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.