iShares U.S. Utilities ETF (NYSEARCA:IDU) Sees Large Volume Increase – Still a Buy?

Shares of iShares U.S. Utilities ETF (NYSEARCA:IDU) saw unusually-strong trading volume on Thursday . Approximately 252,041 shares were traded during mid-day trading, an increase of 118% from the previous session’s volume of 115,494 shares.The stock last traded at $96.81 and had previously closed at $96.21.

iShares U.S. Utilities ETF Stock Performance

The company has a market cap of $1.05 billion, a P/E ratio of 25.14 and a beta of 0.48. The business’s fifty day moving average is $100.02 and its two-hundred day moving average is $97.11.

Hedge Funds Weigh In On iShares U.S. Utilities ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC grew its holdings in iShares U.S. Utilities ETF by 1,289.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 132,123 shares of the company’s stock worth $13,479,000 after acquiring an additional 122,611 shares in the last quarter. Pinkerton Retirement Specialists LLC bought a new position in shares of iShares U.S. Utilities ETF during the second quarter valued at approximately $8,491,000. Norden Group LLC bought a new position in shares of iShares U.S. Utilities ETF during the second quarter valued at approximately $7,168,000. Gimbal Financial bought a new position in iShares U.S. Utilities ETF in the third quarter worth approximately $7,957,000. Finally, Second Half Financial Partners LLC purchased a new stake in iShares U.S. Utilities ETF during the third quarter worth $6,398,000.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market.