iShares U.S. Telecommunications ETF (BATS:IYZ) Reaches New 52-Week High – Still a Buy?

iShares U.S. Telecommunications ETF (BATS:IYZ) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $45.10 and last traded at $44.74, with a volume of 817849 shares trading hands. The stock had previously closed at $44.70.

iShares U.S. Telecommunications ETF Price Performance

The firm has a market capitalization of $825.45 million, a price-to-earnings ratio of 14.09 and a beta of 0.90. The firm’s 50-day simple moving average is $41.51 and its 200 day simple moving average is $37.35.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Clear Creek Financial Management LLC acquired a new position in shares of iShares U.S. Telecommunications ETF during the third quarter worth $813,000. TD Waterhouse Canada Inc. acquired a new position in shares of iShares U.S. Telecommunications ETF during the fourth quarter worth $2,610,000. Moloney Securities Asset Management LLC acquired a new position in shares of iShares U.S. Telecommunications ETF during the third quarter worth $9,288,000. Citigroup Inc. increased its holdings in shares of iShares U.S. Telecommunications ETF by 140.2% during the third quarter. Citigroup Inc. now owns 2,085,584 shares of the exchange traded fund’s stock worth $67,281,000 after buying an additional 1,217,487 shares in the last quarter. Finally, Leo Wealth LLC acquired a new position in shares of iShares U.S. Telecommunications ETF during the fourth quarter worth $963,000.

iShares U.S. Telecommunications ETF Company Profile

iShares U.S. Telecommunications ETF (the Fund), formerly iShares Dow Jones U.S. Telecommunications Sector Index Fund, is a non-diversified 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. Select Telecommunications Index (the Index). The Index measures the performance of the telecommunications sector of the United States equity market, and includes companies in the industry groups, such as fixed-line telecommunications and mobile telecommunications.