Fri Sep 20 06:31:07 UTC 2024: ## iShares U.S. Telecommunications ETF Surges Above 200-Day Moving Average
**New York, NY – September 20, 2024** – The iShares U.S. Telecommunications ETF (BATS: IYZ) saw its stock price climb above its 200-day moving average during trading on Thursday, signaling potential positive momentum for the ETF. The stock traded as high as $24.69, surpassing its 200-day moving average of $21.92.
The ETF’s surge comes amidst increased interest from institutional investors and hedge funds. Orion Portfolio Solutions LLC, for example, grew its position in IYZ by 21.6% during the first quarter, while Millennium Management LLC initiated a new position worth $5.43 million in the second quarter. Several other firms, including Great Lakes Advisors LLC and Advisory Services Network LLC, also boosted their holdings in the ETF.
IYZ, formerly known as the iShares Dow Jones U.S. Telecommunications Sector Index Fund, tracks the performance of the Dow Jones U.S. Select Telecommunications Index. The ETF has a market cap of $246.93 million, a PE ratio of 13.32, and a beta of 0.86.
Analysts are watching the ETF closely as it continues to trade above its 200-day moving average. The recent increase in institutional interest suggests that investors are optimistic about the future of the telecommunications sector.
First Piper 