iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) Shares Rise 0.9% – Is It Time to Invest?

The iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) experienced a notable increase of 0.9% in its shares during mid-day trading on Monday. The stock reached a peak of $92.17 before closing at $91.93, up from its previous close of $91.15. A total of 93,167 shares changed hands during this trading session.

Current Performance of iShares U.S. Oil & Gas ETF

Despite this recent rise, the stock is trading slightly down by 0.4%. With a market capitalization of $764.61 million, the ETF displays a price-to-earnings ratio of 6.89 and has a beta of 0.60, indicating lower volatility compared to the broader market. The ETF’s fifty-day moving average sits at $93.64, while its 200-day moving average is at $94.93.

Institutional Interest in iShares U.S. Oil & Gas ETF

In recent months, various institutional investors have altered their positions in the iShares U.S. Oil & Gas Exploration & Production ETF. Notably, JPMorgan Chase & Co. increased its stake by 23.5% during the third quarter, now holding 16,482 shares valued at approximately $1,507,000 after acquiring an additional 3,137 shares. Meanwhile, Wedbush Securities Inc. raised its holdings by 35.8% in the second quarter and currently possesses 7,481 shares valued at $745,000, following the purchase of an extra 1,974 shares. Additionally, Sunbelt Securities Inc. has boosted its investment by 22.7% in the third quarter, now owning 3,648 shares valued at $334,000 after adding 676 shares to its portfolio.

Overview of the iShares U.S. Oil & Gas ETF

The iShares U.S. Oil & Gas Exploration & Production ETF, formerly known as the iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund, is an exchange-traded fund designed to reflect the price and yield performance of the Dow Jones U.S. Select Oil Exploration & Production Index.

ETFs, Stocks, Investing