iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sets New 12-Month High – Still a Buy?

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) shares reached a new 52-week high on Wednesday . The stock traded as high as $55.66 and last traded at $55.57, with a volume of 36343 shares traded. The stock had previously closed at $54.93.

iShares U.S. Regional Banks ETF Price Performance

The firm has a market capitalization of $784.08 million, a P/E ratio of 9.90 and a beta of 1.24. The company’s 50-day simple moving average is $48.96 and its two-hundred day simple moving average is $45.45.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IAT. Kingsview Wealth Management LLC raised its position in iShares U.S. Regional Banks ETF by 87.5% in the first quarter. Kingsview Wealth Management LLC now owns 58,423 shares of the company’s stock worth $2,534,000 after acquiring an additional 27,257 shares during the period. Cetera Advisors LLC increased its stake in shares of iShares U.S. Regional Banks ETF by 25.5% in the first quarter. Cetera Advisors LLC now owns 21,242 shares of the company’s stock worth $921,000 after purchasing an additional 4,313 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of iShares U.S. Regional Banks ETF in the second quarter worth $30,000. KCM Investment Advisors LLC increased its stake in shares of iShares U.S. Regional Banks ETF by 1.5% in the second quarter. KCM Investment Advisors LLC now owns 49,649 shares of the company’s stock worth $2,058,000 after purchasing an additional 720 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of iShares U.S. Regional Banks ETF in the second quarter worth $56,000.

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.