iShares U.S. Financials ETF (NYSEARCA:IYF) Reaches New 52-Week High – Should You Buy?

iShares U.S. Financials ETF (NYSEARCA:IYF) reached a new 52-week high during trading on Tuesday . The stock traded as high as $133.62 and last traded at $133.62, with a volume of 859648 shares. The stock had previously closed at $131.89.

iShares U.S. Financials ETF Stock Performance

The firm’s 50-day moving average price is $125.31 and its two-hundred day moving average price is $124.85. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 16.42 and a beta of 0.90.

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

A number of institutional investors have recently bought and sold shares of IYF. Northwestern Mutual Wealth Management Co. boosted its holdings in iShares U.S. Financials ETF by 488.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,913,622 shares of the company’s stock valued at $504,583,000 after purchasing an additional 3,248,510 shares during the last quarter. Dynasty Wealth Management LLC increased its holdings in shares of iShares U.S. Financials ETF by 545.2% during the 4th quarter. Dynasty Wealth Management LLC now owns 1,762,552 shares of the company’s stock worth $227,246,000 after buying an additional 1,489,376 shares during the last quarter. Bank of America Corp DE raised its position in shares of iShares U.S. Financials ETF by 5.7% during the 3rd quarter. Bank of America Corp DE now owns 1,586,519 shares of the company’s stock valued at $200,917,000 after buying an additional 86,197 shares during the period. JPMorgan Chase & Co. raised its position in shares of iShares U.S. Financials ETF by 184.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,053,341 shares of the company’s stock valued at $135,807,000 after buying an additional 682,543 shares during the period. Finally, Sagespring Wealth Partners LLC lifted its holdings in iShares U.S. Financials ETF by 247.2% in the fourth quarter. Sagespring Wealth Partners LLC now owns 826,819 shares of the company’s stock valued at $106,602,000 after acquiring an additional 588,659 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. The Company invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.