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 traded hands during 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 Up 1.0 %

The stock has a market capitalization of $1.05 billion, a PE ratio of 25.14 and a beta of 0.48. The stock’s 50 day moving average price is $100.02 and its 200-day moving average price is $97.11.

Institutional Inflows and Outflows

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

iShares U.S. Utilities ETF Company Profile

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.