iShares U.S. Financial Services ETF (NYSEARCA:IYG) Hits New 1-Year High – Here’s Why

iShares U.S. Financial Services ETF (NYSEARCA:IYG) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $78.54 and last traded at $78.52, with a volume of 19705 shares. The stock had previously closed at $74.05.

iShares U.S. Financial Services ETF Trading Up 0.7 %

The company has a market capitalization of $1.59 billion, a PE ratio of 5.95 and a beta of 0.91. The stock’s fifty day moving average is $72.38 and its two-hundred day moving average is $68.55.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IYG. Commerce Bank boosted its stake in shares of iShares U.S. Financial Services ETF by 5.4% during the third quarter. Commerce Bank now owns 3,954 shares of the company’s stock valued at $281,000 after purchasing an additional 204 shares during the period. OneDigital Investment Advisors LLC purchased a new position in iShares U.S. Financial Services ETF in the 3rd quarter worth about $205,000. Oppenheimer & Co. Inc. purchased a new position in iShares U.S. Financial Services ETF in the 3rd quarter worth about $376,000. GSA Capital Partners LLP increased its position in shares of iShares U.S. Financial Services ETF by 22.7% during the 3rd quarter. GSA Capital Partners LLP now owns 3,892 shares of the company’s stock valued at $276,000 after purchasing an additional 720 shares during the last quarter. Finally, Sigma Planning Corp bought a new position in shares of iShares U.S. Financial Services ETF during the 3rd quarter valued at approximately $207,000.

About iShares U.S. Financial Services ETF

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.