iShares Russell 1000 ETF (NYSEARCA:IWB) Sets New 12-Month High – Still a Buy?

iShares Russell 1000 ETF (NYSEARCA:IWB)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $321.24 and last traded at $320.57, with a volume of 26662 shares. The stock had previously closed at $319.44.

iShares Russell 1000 ETF Price Performance

The firm’s 50 day moving average price is $308.81 and its 200-day moving average price is $297.25. The stock has a market cap of $39.38 billion, a P/E ratio of 24.68 and a beta of 1.01.

Hedge Funds Weigh In On iShares Russell 1000 ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC raised its stake in shares of iShares Russell 1000 ETF by 1.3% in the second quarter. LPL Financial LLC now owns 2,341,391 shares of the company’s stock worth $696,658,000 after purchasing an additional 29,339 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in iShares Russell 1000 ETF by 5.1% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 1,626,142 shares of the company’s stock worth $483,842,000 after buying an additional 78,422 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in iShares Russell 1000 ETF by 2.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,279,068 shares of the company’s stock worth $380,574,000 after buying an additional 28,333 shares during the last quarter. BOKF NA lifted its stake in iShares Russell 1000 ETF by 8.9% during the 2nd quarter. BOKF NA now owns 1,260,585 shares of the company’s stock valued at $375,074,000 after acquiring an additional 102,898 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of iShares Russell 1000 ETF by 17.5% during the 1st quarter. Captrust Financial Advisors now owns 968,007 shares of the company’s stock valued at $278,815,000 after acquiring an additional 144,508 shares during the last quarter.

iShares Russell 1000 ETF Company Profile

iShares Russell 1000 ETF (the Fund), formerly iShares Russell 1000 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Russell 1000 Index (the Index). The Index is a float-adjusted capitalization weighted index that measures the performance of the large-capitalization sector of the United States equity market and includes securities issued by the approximately 1,000 largest issuers in the Russell 3000 Index.