iShares U.S. Home Construction ETF (BATS:ITB) Reaches New 52-Week High – Should You Buy?

iShares U.S. Home Construction ETF (BATS:ITB)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $109.99 and last traded at $108.42, with a volume of 4965026 shares changing hands. The stock had previously closed at $105.31.

iShares U.S. Home Construction ETF Stock Performance

The business’s 50 day moving average is $112.78 and its two-hundred day moving average is $116.04. The firm has a market capitalization of $2.76 billion, a PE ratio of 11.56 and a beta of 1.41.

Institutional Trading of iShares U.S. Home Construction ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of ITB. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of iShares U.S. Home Construction ETF in the third quarter worth $63,042,000. Empirical Asset Management LLC purchased a new position in shares of iShares U.S. Home Construction ETF during the fourth quarter worth about $24,537,000. BNP Paribas Financial Markets increased its position in shares of iShares U.S. Home Construction ETF by 25.3% in the third quarter. BNP Paribas Financial Markets now owns 861,373 shares of the exchange traded fund’s stock worth $109,481,000 after purchasing an additional 173,654 shares during the last quarter. Marks Wealth LLC purchased a new stake in iShares U.S. Home Construction ETF in the third quarter valued at approximately $11,211,000. Finally, Kingsview Wealth Management LLC grew its stake in iShares U.S. Home Construction ETF by 1,096.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 64,406 shares of the exchange traded fund’s stock worth $8,186,000 after buying an additional 59,023 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.