iShares U.S. Energy ETF (NYSEARCA:IYE) Sets New 1-Year High – Here’s Why

iShares U.S. Energy ETF (NYSEARCA:IYE)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $50.82 and last traded at $50.8090, with a volume of 196698 shares changing hands. The stock had previously closed at $49.77.

iShares U.S. Energy ETF Trading Up 0.2%

The stock has a market cap of $1.21 billion, a P/E ratio of 15.53 and a beta of 0.78. The firm’s 50-day simple moving average is $48.11 and its 200 day simple moving average is $47.11.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IYE. Forte Asset Management LLC increased its position in iShares U.S. Energy ETF by 5.5% in the 4th quarter. Forte Asset Management LLC now owns 65,924 shares of the company’s stock valued at $3,133,000 after acquiring an additional 3,421 shares during the period. Brookstone Capital Management increased its holdings in shares of iShares U.S. Energy ETF by 22.8% during the fourth quarter. Brookstone Capital Management now owns 7,273 shares of the company’s stock valued at $346,000 after purchasing an additional 1,350 shares during the period. Matthew Goff Investment Advisor LLC bought a new stake in shares of iShares U.S. Energy ETF during the fourth quarter valued at about $460,000. Heartwood Wealth Advisors LLC raised its stake in shares of iShares U.S. Energy ETF by 17.3% during the fourth quarter. Heartwood Wealth Advisors LLC now owns 18,794 shares of the company’s stock valued at $893,000 after purchasing an additional 2,775 shares in the last quarter. Finally, Wealth Management Partners LLC lifted its holdings in iShares U.S. Energy ETF by 2.7% in the fourth quarter. Wealth Management Partners LLC now owns 21,654 shares of the company’s stock worth $1,029,000 after purchasing an additional 578 shares during the period. 52.46% of the stock is owned by institutional investors.

iShares U.S. Energy ETF Company Profile

iShares U.S. Energy ETF (the Fund), formerly iShares Dow Jones U.S. Energy Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Oil & Gas Index (the Index). The Index measures the performance of the oil and gas sector of the United States equity market, and includes companies in industry groups, such as oil and gas producers, and oil equipment, services and distribution. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.