iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Reaches New 52-Week High – What’s Next?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $50.84 and last traded at $50.42, with a volume of 61514 shares trading hands. The stock had previously closed at $49.69.

iShares U.S. Regional Banks ETF Trading Down 1.1 %

The company has a 50 day moving average price of $47.92 and a 200 day moving average price of $44.58. The company has a market capitalization of $714.67 million, a price-to-earnings ratio of 9.90 and a beta of 1.24.

Institutional Investors Weigh In On iShares U.S. Regional Banks ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cultivar Capital Inc. acquired a new stake in shares of iShares U.S. Regional Banks ETF during the second quarter worth $30,000. Farther Finance Advisors LLC acquired a new stake in shares of iShares U.S. Regional Banks ETF during the third quarter worth $39,000. International Assets Investment Management LLC acquired a new stake in shares of iShares U.S. Regional Banks ETF during the second quarter worth $56,000. PNC Financial Services Group Inc. grew its stake in shares of iShares U.S. Regional Banks ETF by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,861 shares of the company’s stock worth $162,000 after purchasing an additional 534 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of iShares U.S. Regional Banks ETF by 8.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 5,042 shares of the company’s stock worth $240,000 after purchasing an additional 396 shares during the period.

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.