iShares U.S. Financials ETF (NYSEARCA:IYF) Sees Large Volume Increase – Should You Buy?

iShares U.S. Financials ETF (NYSEARCA:IYF) shares saw unusually-strong trading volume on Wednesday . Approximately 499,724 shares were traded during mid-day trading, an increase of 49% from the previous session’s volume of 335,831 shares.The stock last traded at $117.61 and had previously closed at $117.13.

iShares U.S. Financials ETF Stock Down 0.4 %

The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 16.14 and a beta of 0.84. The company has a 50 day moving average of $114.15 and a 200 day moving average of $108.42.

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

Hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC lifted its holdings in shares of iShares U.S. Financials ETF by 36.4% during the 4th quarter. Park Avenue Securities LLC now owns 3,048 shares of the company’s stock valued at $337,000 after buying an additional 813 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in iShares U.S. Financials ETF by 16.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 53,268 shares of the company’s stock valued at $5,890,000 after acquiring an additional 7,441 shares during the last quarter. Atria Investments Inc lifted its stake in iShares U.S. Financials ETF by 3.7% in the third quarter. Atria Investments Inc now owns 7,288 shares of the company’s stock valued at $757,000 after acquiring an additional 261 shares during the last quarter. Merit Financial Group LLC bought a new stake in iShares U.S. Financials ETF in the fourth quarter worth approximately $523,000. Finally, Retirement Planning Group LLC increased its stake in shares of iShares U.S. Financials ETF by 13.3% during the 3rd quarter. Retirement Planning Group LLC now owns 2,961 shares of the company’s stock worth $308,000 after purchasing an additional 348 shares during the last quarter.

About iShares U.S. Financials ETF

iShares U.S. Financials ETF, formerly iShares Dow Jones U.S. Financial Sector Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial sector of the United States equity market, and includes companies in industry groups, such as banks, non-life insurance, life insurance, real estate and general finance.