iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sets New 52-Week High – Still a Buy?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $63.07 and last traded at $63.04, with a volume of 70269 shares. The stock had previously closed at $62.21.

iShares U.S. Regional Banks ETF Trading Up 1.9%

The firm has a 50-day moving average price of $58.45 and a 200-day moving average price of $57.27. The company has a market capitalization of $678.49 million, a price-to-earnings ratio of 12.39 and a beta of 0.89.

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

Several hedge funds have recently made changes to their positions in IAT. Lido Advisors LLC bought a new stake in shares of iShares U.S. Regional Banks ETF in the 1st quarter worth approximately $10,280,000. Two Sigma Investments LP grew its position in iShares U.S. Regional Banks ETF by 154.3% in the third quarter. Two Sigma Investments LP now owns 193,000 shares of the company’s stock worth $10,138,000 after buying an additional 117,100 shares during the last quarter. Bank of America Corp DE grew its position in iShares U.S. Regional Banks ETF by 23.0% in the first quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock worth $28,060,000 after buying an additional 97,510 shares during the last quarter. Jain Global LLC bought a new position in shares of iShares U.S. Regional Banks ETF in the third quarter valued at $3,544,000. Finally, Equitable Holdings Inc. acquired a new stake in shares of iShares U.S. Regional Banks ETF during the 4th quarter valued at $2,719,000.

iShares U.S. Regional Banks ETF Company Profile

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.