iShares Residential and Multisector Real Estate ETF (NYSEARCA:REZ) Hits New 52-Week High – Time to Buy?

iShares Residential and Multisector Real Estate ETF (NYSEARCA:REZ) shares hit a new 52-week high on Wednesday . The company traded as high as $89.33 and last traded at $89.30, with a volume of 91815 shares traded. The stock had previously closed at $87.72.

iShares Residential and Multisector Real Estate ETF Stock Up 1.2%

The stock has a market cap of $830.37 million, a P/E ratio of 43.88 and a beta of 0.89. The firm has a 50 day simple moving average of $83.88 and a 200-day simple moving average of $83.75.

Institutional Investors Weigh In On iShares Residential and Multisector Real Estate ETF

Several hedge funds have recently added to or reduced their stakes in the business. Kendall Capital Management increased its holdings in shares of iShares Residential and Multisector Real Estate ETF by 1.4% in the third quarter. Kendall Capital Management now owns 10,829 shares of the company’s stock valued at $920,000 after purchasing an additional 146 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of iShares Residential and Multisector Real Estate ETF by 19.3% during the 4th quarter. Sound Income Strategies LLC now owns 2,331 shares of the company’s stock worth $201,000 after buying an additional 377 shares during the period. Jones Financial Companies Lllp grew its stake in iShares Residential and Multisector Real Estate ETF by 15.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 6,700 shares of the company’s stock valued at $563,000 after buying an additional 874 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in iShares Residential and Multisector Real Estate ETF by 7.3% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 14,702 shares of the company’s stock valued at $1,215,000 after buying an additional 996 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in iShares Residential and Multisector Real Estate ETF by 1.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 156,623 shares of the company’s stock valued at $13,312,000 after acquiring an additional 2,136 shares during the period.

About iShares Residential and Multisector Real Estate ETF

The iShares Residential and Multisector Real Estate ETF (REZ) is an exchange-traded fund that is based on the FTSE Nareit All Residential Capped index. The fund tracks a market cap-weighted index of US residential, health care, and specialized REITs. REZ was launched on May 1, 2007 and is managed by BlackRock.