iShares U.S. Financials ETF (NYSEARCA:IYF) Sets New 52-Week High – Still a Buy?

iShares U.S. Financials ETF (NYSEARCA:IYF) shares reached a new 52-week high during trading on Thursday . The company traded as high as $116.58 and last traded at $116.49, with a volume of 44830 shares changing hands. The stock had previously closed at $114.84.

iShares U.S. Financials ETF Stock Up 1.1 %

The firm’s 50-day moving average is $108.19 and its 200-day moving average is $101.22. The company has a market capitalization of $3.27 billion, a PE ratio of 16.14 and a beta of 0.84.

Hedge Funds Weigh In On iShares U.S. Financials ETF

A number of institutional investors and hedge funds have recently made changes to their positions in IYF. The Manufacturers Life Insurance Company bought a new stake in iShares U.S. Financials ETF in the 2nd quarter valued at $56,608,000. Bank of Montreal Can grew its holdings 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 valued at $44,658,000 after purchasing an additional 377,999 shares during the last quarter. Wulff Hansen & CO. boosted its position in iShares U.S. Financials ETF by 9,357.0% in the 2nd quarter. Wulff Hansen & CO. now owns 262,432 shares of the company’s stock valued at $24,818,000 after buying an additional 259,657 shares during the period. The Manufacturers Life Insurance Company boosted its position in iShares U.S. Financials ETF by 28.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 769,351 shares of the company’s stock valued at $79,936,000 after buying an additional 170,769 shares during the period. Finally, Apollon Wealth Management LLC boosted its position in iShares U.S. Financials ETF by 1,161.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 124,235 shares of the company’s stock valued at $12,908,000 after buying an additional 114,383 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.