iShares U.S. Home Construction ETF (BATS:ITB) Hits New 1-Year High – Here’s Why

iShares U.S. Home Construction ETF (BATS:ITB) shares hit a new 52-week high on Monday . The stock traded as high as $109.99 and last traded at $103.92, with a volume of 4965026 shares traded. The stock had previously closed at $105.31.

iShares U.S. Home Construction ETF Stock Performance

The firm has a market cap of $2.68 billion, a PE ratio of 11.56 and a beta of 1.41. The stock has a 50 day simple moving average of $109.64 and a two-hundred day simple moving average of $116.52.

Institutional Investors Weigh In On iShares U.S. Home Construction ETF

Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its holdings in iShares U.S. Home Construction ETF by 5.9% during the second quarter. Bank of Montreal Can now owns 6,987 shares of the exchange traded fund’s stock worth $707,000 after buying an additional 390 shares in the last quarter. Truist Financial Corp grew its position in shares of iShares U.S. Home Construction ETF by 20.6% during the 2nd quarter. Truist Financial Corp now owns 19,693 shares of the exchange traded fund’s stock valued at $1,990,000 after acquiring an additional 3,366 shares during the period. Park Avenue Securities LLC purchased a new position in shares of iShares U.S. Home Construction ETF in the 3rd quarter valued at about $448,000. Dynamic Advisor Solutions LLC acquired a new position in iShares U.S. Home Construction ETF in the 3rd quarter worth about $1,028,000. Finally, Brookstone Capital Management boosted its position in iShares U.S. Home Construction ETF by 516.4% during the third quarter. Brookstone Capital Management now owns 13,062 shares of the exchange traded fund’s stock worth $1,660,000 after purchasing an additional 10,943 shares in the last quarter.

iShares U.S. Home Construction ETF Company Profile

iShares U.S. Home Construction ETF, formerly iShares Dow Jones U.S. Home Construction Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Home Construction Index (the Index). The Index measures the performance of the home construction sector of the United States equity market, and includes companies that are constructors of residential homes, including manufacturers of mobile and prefabricated homes.