iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sets New 12-Month High – Still a Buy?

iShares U.S. Financial Services ETF (NYSEARCA:IYG) shares hit a new 52-week high on Wednesday. The company traded as high as $98.70 and last traded at $98.7180, with a volume of 134,780 shares trading hands. The stock had previously closed at $95.42.

iShares U.S. Financial Services ETF Trading Up 3.5%

The company has a market cap of $2.35 billion, a P/E ratio of 16.62 and a beta of 0.97. The company has a 50-day simple moving average of $93.95 and a 200 day simple moving average of $90.51.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

Institutional investors and hedge funds have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. acquired a new stake in iShares U.S. Financial Services ETF in the 3rd quarter valued at about $13,232,000. Howard Capital Management Group LLC bought a new stake in iShares U.S. Financial Services ETF during the third quarter worth approximately $8,356,000. Cetera Investment Advisers grew its position in iShares U.S. Financial Services ETF by 3.8% in the first quarter. Cetera Investment Advisers now owns 51,002 shares of the company’s stock worth $4,225,000 after buying an additional 1,889 shares during the last quarter. Centerline Wealth Advisors LLC increased its holdings in shares of iShares U.S. Financial Services ETF by 1.5% in the third quarter. Centerline Wealth Advisors LLC now owns 46,788 shares of the company’s stock valued at $4,207,000 after buying an additional 695 shares in the last quarter. Finally, Forte Asset Management LLC bought a new position in iShares U.S. Financial Services ETF during the third quarter valued at about $4,157,000.

iShares U.S. Financial Services ETF Company Profile

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.