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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw strong trading volume on Wednesday . 350,109 shares were traded during mid-day trading, an increase of 189% from the previous session’s volume of 121,077 shares.The stock last traded at $86.88 and had previously closed at $85.91.

iShares U.S. Financial Services ETF Price Performance

The company has a 50-day moving average price of $85.08 and a 200-day moving average price of $88.22. The firm has a market capitalization of $1.99 billion, a PE ratio of 18.95 and a beta of 0.98.

Institutional Trading of iShares U.S. Financial Services ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its position in iShares U.S. Financial Services ETF by 17.4% during the first quarter. NewEdge Advisors LLC now owns 10,232 shares of the company’s stock worth $804,000 after buying an additional 1,517 shares during the period. Focus Partners Wealth lifted its position in iShares U.S. Financial Services ETF by 11.2% during the first quarter. Focus Partners Wealth now owns 6,826 shares of the company’s stock worth $536,000 after buying an additional 685 shares during the period. Baird Financial Group Inc. lifted its position in iShares U.S. Financial Services ETF by 3.8% during the second quarter. Baird Financial Group Inc. now owns 8,694 shares of the company’s stock worth $744,000 after buying an additional 320 shares during the period. Qube Research & Technologies Ltd lifted its position in iShares U.S. Financial Services ETF by 267.7% during the second quarter. Qube Research & Technologies Ltd now owns 2,368 shares of the company’s stock worth $203,000 after buying an additional 1,724 shares during the period. Finally, Florida Financial Advisors LLC purchased a new position in iShares U.S. Financial Services ETF during the second quarter worth about $394,000.

About iShares U.S. Financial Services ETF

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. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.