iShares U.S. Telecommunications ETF (BATS:IYZ) Sets New 12-Month High – Time to Buy?

iShares U.S. Telecommunications ETF (BATS:IYZ) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.10 and last traded at $44.74, with a volume of 817849 shares trading hands. The stock had previously closed at $44.70.

iShares U.S. Telecommunications ETF Stock Down 0.6%

The firm’s 50-day moving average is $41.73 and its 200-day moving average is $37.53. The company has a market cap of $825.08 million, a PE ratio of 14.09 and a beta of 0.90.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advanced Asset Management Advisors Inc grew its holdings in shares of iShares U.S. Telecommunications ETF by 4.5% during the fourth quarter. Advanced Asset Management Advisors Inc now owns 6,605 shares of the exchange traded fund’s stock valued at $224,000 after buying an additional 285 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of iShares U.S. Telecommunications ETF by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 46,603 shares of the exchange traded fund’s stock valued at $1,580,000 after buying an additional 415 shares during the last quarter. HighTower Advisors LLC lifted its position in iShares U.S. Telecommunications ETF by 1.1% during the fourth quarter. HighTower Advisors LLC now owns 39,612 shares of the exchange traded fund’s stock valued at $1,343,000 after purchasing an additional 428 shares during the period. AlphaCore Capital LLC lifted its position in iShares U.S. Telecommunications ETF by 8.4% during the fourth quarter. AlphaCore Capital LLC now owns 6,457 shares of the exchange traded fund’s stock valued at $219,000 after purchasing an additional 500 shares during the period. Finally, CWM LLC lifted its position in iShares U.S. Telecommunications ETF by 28.2% during the fourth quarter. CWM LLC now owns 2,658 shares of the exchange traded fund’s stock valued at $90,000 after purchasing an additional 584 shares during the period.

iShares U.S. Telecommunications ETF Company Profile

iShares U.S. Telecommunications ETF (the Fund), formerly iShares Dow Jones U.S. Telecommunications Sector Index Fund, is a non-diversified 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. Select Telecommunications Index (the Index). The Index measures the performance of the telecommunications sector of the United States equity market, and includes companies in the industry groups, such as fixed-line telecommunications and mobile telecommunications.