iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Hits New 12-Month High – Time to Buy?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $54.93 and last traded at $54.87, with a volume of 47879 shares trading hands. The stock had previously closed at $54.05.

iShares U.S. Regional Banks ETF Stock Performance

The stock has a market capitalization of $611.35 million, a price-to-earnings ratio of 12.39 and a beta of 0.96. The company has a 50 day moving average of $50.71 and a 200 day moving average of $50.78.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC raised its holdings in iShares U.S. Regional Banks ETF by 277,595.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 24,248,343 shares of the company’s stock valued at $1,115,335,000 after acquiring an additional 24,239,611 shares in the last quarter. Two Sigma Investments LP grew its holdings in iShares U.S. Regional Banks ETF by 154.3% during the 3rd quarter. Two Sigma Investments LP now owns 193,000 shares of the company’s stock worth $10,138,000 after acquiring an additional 117,100 shares in the last quarter. Jain Global LLC purchased a new stake in shares of iShares U.S. Regional Banks ETF in the 3rd quarter valued at approximately $3,544,000. SCS Capital Management LLC acquired a new stake in shares of iShares U.S. Regional Banks ETF in the 1st quarter valued at $2,930,000. Finally, Advisory Services Network LLC raised its holdings in shares of iShares U.S. Regional Banks ETF by 52.0% in the 3rd quarter. Advisory Services Network LLC now owns 86,381 shares of the company’s stock valued at $4,538,000 after purchasing an additional 29,553 shares in the last quarter.

About iShares U.S. Regional Banks ETF

The iShares U.S. Regional Banks ETF (IAT) is an exchange-traded fund that is based on the DJ US Select \u002F Regional Banks index. The fund tracks the performance of an index of small- and mid-cap regional banks. IAT was launched on May 1, 2006 and is managed by BlackRock.