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 stock price reached a new 52-week high on Monday . The company traded as high as $109.99 and last traded at $103.92, with a volume of 4965026 shares. The stock had previously closed at $105.31.

iShares U.S. Home Construction ETF Price Performance

The company’s fifty day simple moving average is $109.64 and its 200-day simple moving average is $116.52. The firm has a market capitalization of $2.68 billion, a PE ratio of 11.56 and a beta of 1.41.

Hedge Funds Weigh In On iShares U.S. Home Construction ETF

A number of hedge funds have recently made changes to their positions in ITB. Bank of Montreal Can boosted its stake in shares of iShares U.S. Home Construction ETF by 5.9% in the second quarter. Bank of Montreal Can now owns 6,987 shares of the exchange traded fund’s stock worth $707,000 after acquiring an additional 390 shares during the last quarter. Truist Financial Corp boosted its stake in iShares U.S. Home Construction ETF by 20.6% during the 2nd quarter. Truist Financial Corp now owns 19,693 shares of the exchange traded fund’s stock worth $1,990,000 after purchasing an additional 3,366 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in iShares U.S. Home Construction ETF during the 3rd quarter worth $448,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of iShares U.S. Home Construction ETF during the third quarter worth $1,028,000. Finally, Brookstone Capital Management raised its position in shares of iShares U.S. Home Construction ETF by 516.4% in the third quarter. Brookstone Capital Management now owns 13,062 shares of the exchange traded fund’s stock valued at $1,660,000 after buying an additional 10,943 shares during the last quarter.

iShares U.S. Home Construction ETF Company Profile

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.