iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) Shares Down 6.7% – Here’s Why

iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) dropped 6.7% during mid-day trading on Thursday . The stock traded as low as $97.51 and last traded at $90.5730. Approximately 56,260 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 88,691 shares. The stock had previously closed at $97.06.

iShares U.S. Oil & Gas Exploration & Production ETF Stock Performance

The company has a market capitalization of $493.62 million, a price-to-earnings ratio of 14.30 and a beta of 0.85. The firm’s 50-day simple moving average is $91.00 and its 200-day simple moving average is $89.89.

Institutional Investors Weigh In On iShares U.S. Oil & Gas Exploration & Production ETF

A number of institutional investors have recently modified their holdings of the business. RMG Wealth Management LLC acquired a new stake in iShares U.S. Oil & Gas Exploration & Production ETF during the second quarter worth approximately $27,000. RiverFront Investment Group LLC bought a new stake in shares of iShares U.S. Oil & Gas Exploration & Production ETF during the 2nd quarter valued at $626,000. Gill Capital Partners LLC bought a new stake in shares of iShares U.S. Oil & Gas Exploration & Production ETF during the 3rd quarter valued at $203,000. First Horizon Corp acquired a new stake in shares of iShares U.S. Oil & Gas Exploration & Production ETF during the 3rd quarter worth $230,000. Finally, JPMorgan Chase & Co. increased its position in shares of iShares U.S. Oil & Gas Exploration & Production ETF by 2.0% in the third quarter. JPMorgan Chase & Co. now owns 10,757 shares of the company’s stock worth $996,000 after purchasing an additional 206 shares during the period.

About iShares U.S. Oil & Gas Exploration & Production ETF

iShares U.S. Oil & Gas Exploration & Production ETF, formerly iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Oil Exploration & Production Index (the Index).