iShares U.S. Financials ETF (NYSEARCA:IYF) Sees Strong Trading Volume – Still a Buy?

iShares U.S. Financials ETF (NYSEARCA:IYF) shares saw unusually-high trading volume on Friday . Approximately 160,205 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 197,119 shares.The stock last traded at $109.38 and had previously closed at $109.59.

iShares U.S. Financials ETF Stock Up 0.1 %

The firm’s 50 day simple moving average is $103.24 and its two-hundred day simple moving average is $97.90. The stock has a market capitalization of $3.05 billion, a P/E ratio of 16.14 and a beta of 0.84.

Institutional Trading of iShares U.S. Financials ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IYF. CWM LLC increased its stake in iShares U.S. Financials ETF by 5.0% during the 1st quarter. CWM LLC now owns 4,030 shares of the company’s stock valued at $385,000 after purchasing an additional 192 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of iShares U.S. Financials ETF in the 1st quarter worth about $214,000. Global Trust Asset Management LLC lifted its position in iShares U.S. Financials ETF by 81.1% in the 1st quarter. Global Trust Asset Management LLC now owns 335 shares of the company’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Retirement Planning Group LLC acquired a new position in iShares U.S. Financials ETF during the 1st quarter valued at about $247,000. Finally, Brookstone Capital Management boosted its stake in iShares U.S. Financials ETF by 812.2% during the 1st quarter. Brookstone Capital Management now owns 58,953 shares of the company’s stock valued at $5,639,000 after purchasing an additional 52,490 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.