iShares S&P 500 BuyWrite ETF (NYSEARCA:IVVW) Trading 1.9% Higher – Still a Buy?

iShares S&P 500 BuyWrite ETF (NYSEARCA:IVVW) shot up 1.9% during trading on Tuesday . The company traded as high as $43.68 and last traded at $43.54. 2,738 shares were traded during trading, a decline of 78% from the average session volume of 12,265 shares. The stock had previously closed at $42.73.

iShares S&P 500 BuyWrite ETF Price Performance

The stock has a market capitalization of $36.57 million, a PE ratio of 23.12 and a beta of 0.60. The firm’s 50 day simple moving average is $46.30 and its 200 day simple moving average is $48.60.

Hedge Funds Weigh In On iShares S&P 500 BuyWrite ETF

A number of large investors have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its position in iShares S&P 500 BuyWrite ETF by 0.3% in the fourth quarter. Assetmark Inc. now owns 90,135 shares of the company’s stock valued at $4,413,000 after purchasing an additional 285 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of iShares S&P 500 BuyWrite ETF in the fourth quarter worth $1,003,000. Janney Montgomery Scott LLC bought a new stake in iShares S&P 500 BuyWrite ETF during the 1st quarter valued at $212,000. Insight Wealth Strategies LLC purchased a new stake in iShares S&P 500 BuyWrite ETF during the 1st quarter valued at $303,000. Finally, Cetera Investment Advisers grew its holdings in iShares S&P 500 BuyWrite ETF by 108.0% in the 4th quarter. Cetera Investment Advisers now owns 51,743 shares of the company’s stock worth $2,533,000 after acquiring an additional 26,868 shares during the last quarter.

About iShares S&P 500 BuyWrite ETF

The iShares S&P 500 BuyWrite ETF (IVVW) is an exchange-traded fund that mostly invests in large cap equity. The fund is passively managed, aiming to participate in the price movement of US large-cap stocks, up to a certain cap, while also providing enhanced monthly income through a covered call option writing strategy.