iShares U.S. Consumer Discretionary ETF (NYSEARCA:IYC) Sees Large Volume Increase – Still a Buy?

Shares of iShares U.S. Consumer Discretionary ETF (NYSEARCA:IYC) saw strong trading volume on Thursday . 156,144 shares were traded during mid-day trading, an increase of 37% from the previous session’s volume of 113,655 shares.The stock last traded at $99.54 and had previously closed at $99.63.

iShares U.S. Consumer Discretionary ETF Trading Down 0.1 %

The stock has a market capitalization of $1.19 billion, a P/E ratio of 29.94 and a beta of 1.16. The firm’s fifty day moving average is $94.66 and its 200-day moving average is $87.09.

Institutional Trading of iShares U.S. Consumer Discretionary ETF

Several hedge funds have recently modified their holdings of IYC. Bank of New York Mellon Corp bought a new stake in shares of iShares U.S. Consumer Discretionary ETF during the second quarter worth approximately $381,000. International Assets Investment Management LLC acquired a new stake in shares of iShares U.S. Consumer Discretionary ETF in the 2nd quarter valued at approximately $41,000. Bray Capital Advisors boosted its stake in iShares U.S. Consumer Discretionary ETF by 66.7% during the 2nd quarter. Bray Capital Advisors now owns 500 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares during the last quarter. Financial Counselors Inc. grew its holdings in iShares U.S. Consumer Discretionary ETF by 26.9% during the second quarter. Financial Counselors Inc. now owns 4,010 shares of the company’s stock valued at $326,000 after purchasing an additional 850 shares during the period. Finally, Laidlaw Wealth Management LLC increased its stake in iShares U.S. Consumer Discretionary ETF by 2.3% in the second quarter. Laidlaw Wealth Management LLC now owns 7,341 shares of the company’s stock valued at $597,000 after purchasing an additional 168 shares in the last quarter.

About iShares U.S. Consumer Discretionary ETF

The iShares US Consumer Discretionary ETF (IYC) is an exchange-traded fund that mostly invests in consumer discretionary equity. The fund tracks a market-cap-weighted index of US companies that provide consumer services. IYC was launched on Jun 12, 2000 and is managed by BlackRock.