iShares U.S. Financials ETF (NYSEARCA:IYF) Sees Strong Trading Volume – Here’s Why

iShares U.S. Financials ETF (NYSEARCA:IYF) saw an uptick in trading volume on Monday . 370,717 shares were traded during mid-day trading, an increase of 57% from the previous session’s volume of 236,121 shares.The stock last traded at $109.65 and had previously closed at $111.47.

iShares U.S. Financials ETF Stock Down 0.3 %

The firm’s fifty day moving average price is $115.19 and its 200 day moving average price is $111.25. The stock has a market cap of $3.65 billion, a PE ratio of 15.26 and a beta of 1.08.

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

Hedge funds have recently modified their holdings of the stock. Accredited Wealth Management LLC bought a new stake in iShares U.S. Financials ETF in the fourth quarter worth $29,000. Private Trust Co. NA boosted its stake in shares of iShares U.S. Financials ETF by 50.5% during the fourth quarter. Private Trust Co. NA now owns 301 shares of the company’s stock valued at $33,000 after purchasing an additional 101 shares during the period. Kestra Investment Management LLC purchased a new stake in iShares U.S. Financials ETF in the fourth quarter worth about $34,000. Newbridge Financial Services Group Inc. purchased a new stake in iShares U.S. Financials ETF in the fourth quarter worth about $37,000. Finally, Stonebridge Financial Group LLC purchased a new stake in iShares U.S. Financials ETF in the fourth quarter worth about $37,000.

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.