iShares U.S. Transportation ETF (BATS:IYT) Hits New 12-Month High – Should You Buy?

iShares U.S. Transportation ETF (BATS:IYT)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $88.78 and last traded at $88.73, with a volume of 62037 shares changing hands. The stock had previously closed at $88.12.

iShares U.S. Transportation ETF Price Performance

The firm has a market cap of $884.96 million, a P/E ratio of 16.05 and a beta of 1.25. The firm’s 50-day moving average price is $84.27 and its 200 day moving average price is $80.15.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of iShares U.S. Transportation ETF by 233.9% in the 1st quarter. NewEdge Advisors LLC now owns 12,589 shares of the exchange traded fund’s stock valued at $806,000 after acquiring an additional 8,819 shares during the last quarter. Cerity Partners LLC bought a new stake in iShares U.S. Transportation ETF during the second quarter valued at $388,000. Raymond James Financial Inc. raised its holdings in shares of iShares U.S. Transportation ETF by 8.4% during the second quarter. Raymond James Financial Inc. now owns 91,742 shares of the exchange traded fund’s stock worth $6,288,000 after purchasing an additional 7,112 shares during the period. Bank of America Corp DE lifted its position in shares of iShares U.S. Transportation ETF by 54.6% in the 2nd quarter. Bank of America Corp DE now owns 255,098 shares of the exchange traded fund’s stock worth $17,484,000 after buying an additional 90,131 shares during the last quarter. Finally, WFA of San Diego LLC bought a new position in shares of iShares U.S. Transportation ETF in the 2nd quarter worth about $69,000.

About iShares U.S. Transportation ETF

iShares Transportation Average ETF (the Fund), formerly iShares Dow Jones Transportation Average Index Fund, is an exchange-traded fund (ETF). The Fund seek investment results that correspond generally to the price and yield performance, before fees and expenses, of Dow Jones Transportation Average Index. The Index measures the performance of the transportation sector of the United States equity market, and includes companies in the primary groups, such as airlines, trucking, railroads, air freight, transportation services and industrial services.