iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ) Shares Down 2.7% – Here’s Why

iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ)’s share price fell 2.7% during trading on Tuesday. The stock traded as low as $26.69 and last traded at $26.75. 909,939 shares changed hands during mid-day trading, an increase of 99% from the average session volume of 457,514 shares. The stock had previously closed at $27.48.

iShares U.S. Oil Equipment & Services ETF Trading Up 0.8%

The company has a market cap of $346.28 million, a price-to-earnings ratio of 11.67 and a beta of 0.92. The company has a fifty day moving average price of $28.88 and a two-hundred day moving average price of $29.10.

Hedge Funds Weigh In On iShares U.S. Oil Equipment & Services ETF

A number of hedge funds have recently made changes to their positions in IEZ. Sunbelt Securities Inc. boosted its position in shares of iShares U.S. Oil Equipment & Services ETF by 198.3% during the 1st quarter. Sunbelt Securities Inc. now owns 6,971 shares of the company’s stock valued at $202,000 after acquiring an additional 4,634 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in iShares U.S. Oil Equipment & Services ETF in the fourth quarter worth about $35,000. Finally, Advisors Preferred LLC bought a new position in iShares U.S. Oil Equipment & Services ETF during the first quarter worth about $40,000.

iShares U.S. Oil Equipment & Services ETF Company Profile

iShares U.S. Oil Equipment & Services ETF (the Fund), formerly iShares Dow Jones U.S. Oil Equipment & Services 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. Select Oil Equipment & Services Index (the Index). The Index measures the performance of the oil equipment and services sector of the United States equity market, and includes companies that are suppliers of equipment or services to oil fields and offshore platforms, such as drilling, exploration, engineering, logistics, seismic information services and platform construction.