iShares U.S. Utilities ETF (NYSEARCA:IDU) Sets New 1-Year Low – Here’s Why

iShares U.S. Utilities ETF (NYSEARCA:IDU)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $104.06 and last traded at $104.1530, with a volume of 169216 shares. The stock had previously closed at $104.21.

iShares U.S. Utilities ETF Stock Down 0.4%

The stock has a 50 day simple moving average of $111.20 and a 200 day simple moving average of $113.67. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 21.72 and a beta of 0.57.

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

Several hedge funds and other institutional investors have recently modified their holdings of IDU. Hsbc Holdings PLC boosted its stake in iShares U.S. Utilities ETF by 24,187.0% during the 4th quarter. Hsbc Holdings PLC now owns 728,611 shares of the company’s stock valued at $78,952,000 after purchasing an additional 725,611 shares during the period. Arete Wealth Advisors LLC bought a new position in iShares U.S. Utilities ETF in the 1st quarter worth approximately $6,975,000. Corient Private Wealth LLC raised its stake in iShares U.S. Utilities ETF by 940.4% during the 4th quarter. Corient Private Wealth LLC now owns 21,433 shares of the company’s stock valued at $2,322,000 after acquiring an additional 19,373 shares in the last quarter. Citadel Advisors LLC boosted its position in iShares U.S. Utilities ETF by 863.9% during the 2nd quarter. Citadel Advisors LLC now owns 20,771 shares of the company’s stock worth $2,381,000 after acquiring an additional 18,616 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in iShares U.S. Utilities ETF by 100.4% during the 1st quarter. Sanctuary Advisors LLC now owns 36,303 shares of the company’s stock worth $4,215,000 after acquiring an additional 18,185 shares during the period.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.