iShares U.S. Home Construction ETF (BATS:ITB) Hits New 12-Month High – Still a Buy?

iShares U.S. Home Construction ETF (BATS:ITB)’s share price hit a new 52-week high on Monday . The stock traded as high as $120.41 and last traded at $120.03, with a volume of 1268221 shares traded. The stock had previously closed at $118.98.

iShares U.S. Home Construction ETF Stock Performance

The business’s 50-day moving average price is $121.63 and its 200-day moving average price is $115.68. The stock has a market cap of $2.95 billion, a P/E ratio of 11.56 and a beta of 1.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITB. Outlook Wealth Advisors LLC grew its holdings in shares of iShares U.S. Home Construction ETF by 1.8% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 23,423 shares of the exchange traded fund’s stock worth $2,367,000 after acquiring an additional 412 shares during the period. Raymond James & Associates grew its holdings in iShares U.S. Home Construction ETF by 4.6% in the second quarter. Raymond James & Associates now owns 126,023 shares of the exchange traded fund’s stock valued at $12,736,000 after purchasing an additional 5,583 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of iShares U.S. Home Construction ETF by 12.6% in the second quarter. Atria Wealth Solutions Inc. now owns 16,698 shares of the exchange traded fund’s stock valued at $1,688,000 after buying an additional 1,873 shares in the last quarter. Vicus Capital raised its stake in shares of iShares U.S. Home Construction ETF by 1.7% during the 2nd quarter. Vicus Capital now owns 26,734 shares of the exchange traded fund’s stock worth $2,702,000 after buying an additional 451 shares during the last quarter. Finally, H&H Retirement Design & Management INC boosted its position in shares of iShares U.S. Home Construction ETF by 4.0% in the 2nd quarter. H&H Retirement Design & Management INC now owns 9,240 shares of the exchange traded fund’s stock worth $934,000 after buying an additional 355 shares in the last quarter.

About iShares U.S. Home Construction ETF

iShares U.S. Home Construction ETF, formerly iShares Dow Jones U.S. Home Construction Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Home Construction Index (the Index). The Index measures the performance of the home construction sector of the United States equity market, and includes companies that are constructors of residential homes, including manufacturers of mobile and prefabricated homes.