iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Large Volume Increase – Here’s What Happened

iShares U.S. Financial Services ETF (NYSEARCA:IYG) shares saw an uptick in trading volume on Thursday . 165,099 shares were traded during mid-day trading, an increase of 184% from the previous session’s volume of 58,130 shares.The stock last traded at $82.54 and had previously closed at $81.61.

iShares U.S. Financial Services ETF Trading Up 2.1 %

The firm’s 50 day simple moving average is $81.28 and its 200-day simple moving average is $76.82. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 17.45 and a beta of 0.91.

Institutional Trading of iShares U.S. Financial Services ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. RiverFront Investment Group LLC boosted its holdings in iShares U.S. Financial Services ETF by 3.3% in the 4th quarter. RiverFront Investment Group LLC now owns 1,556,433 shares of the company’s stock valued at $121,106,000 after purchasing an additional 49,743 shares during the period. Raymond James Financial Inc. bought a new stake in iShares U.S. Financial Services ETF in the 4th quarter valued at about $43,292,000. Bank of America Corp DE boosted its holdings in iShares U.S. Financial Services ETF by 8.3% in the 4th quarter. Bank of America Corp DE now owns 462,205 shares of the company’s stock valued at $35,964,000 after purchasing an additional 35,579 shares during the period. LPL Financial LLC boosted its holdings in iShares U.S. Financial Services ETF by 4.5% in the 4th quarter. LPL Financial LLC now owns 434,621 shares of the company’s stock valued at $33,818,000 after purchasing an additional 18,688 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of iShares U.S. Financial Services ETF by 2.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 389,794 shares of the company’s stock worth $30,330,000 after acquiring an additional 8,000 shares during the period.

iShares U.S. Financial Services ETF Company Profile

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.