iShares U.S. Consumer Staples ETF (NYSEARCA:IYK) Sees Large Volume Increase – Still a Buy?

iShares U.S. Consumer Staples ETF (NYSEARCA:IYK) saw strong trading volume on Monday . 170,870 shares were traded during trading, an increase of 68% from the previous session’s volume of 101,776 shares.The stock last traded at $69.62 and had previously closed at $70.07.

iShares U.S. Consumer Staples ETF Stock Performance

The company has a 50 day moving average of $70.29 and a 200 day moving average of $67.98. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.93 and a beta of 0.35.

Institutional Investors Weigh In On iShares U.S. Consumer Staples ETF

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC raised its stake in iShares U.S. Consumer Staples ETF by 200.0% in the first quarter. Manchester Capital Management LLC now owns 441 shares of the company’s stock valued at $30,000 after buying an additional 294 shares in the last quarter. Beacon Capital Management LLC acquired a new stake in shares of iShares U.S. Consumer Staples ETF during the 2nd quarter worth about $30,000. Angeles Wealth Management LLC raised its position in shares of iShares U.S. Consumer Staples ETF by 200.0% during the 1st quarter. Angeles Wealth Management LLC now owns 561 shares of the company’s stock worth $38,000 after acquiring an additional 374 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in iShares U.S. Consumer Staples ETF during the second quarter worth approximately $41,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in iShares U.S. Consumer Staples ETF in the second quarter valued at approximately $45,000.

About iShares U.S. Consumer Staples ETF

iShares U.S. Consumer Goods ETF (the Fund), formerly iShares Dow Jones U.S .Consumer Goods Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of United States consumer goods stocks, as represented by the Dow Jones United States Consumer Goods Index.