iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Hits New 12-Month High – Here’s Why
by Kim Johansen · The Markets DailyiShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $196.78 and last traded at $196.75, with a volume of 41361 shares trading hands. The stock had previously closed at $194.76.
iShares U.S. Broker-Dealers & Securities Exchanges ETF Trading Up 1.3%
The firm has a market cap of $1.43 billion, a P/E ratio of 23.81 and a beta of 1.08. The stock has a 50 day simple moving average of $187.43 and a 200-day simple moving average of $178.42.
Institutional Investors Weigh In On iShares U.S. Broker-Dealers & Securities Exchanges ETF
A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,234 shares of the company’s stock worth $572,000 after buying an additional 683 shares in the last quarter. Ameriprise Financial Inc. grew its position in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 3.2% in the third quarter. Ameriprise Financial Inc. now owns 122,669 shares of the company’s stock worth $21,714,000 after acquiring an additional 3,811 shares in the last quarter. Farther Finance Advisors LLC increased its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 38.9% during the fourth quarter. Farther Finance Advisors LLC now owns 2,806 shares of the company’s stock worth $503,000 after acquiring an additional 786 shares during the last quarter. Nemes Rush Group LLC bought a new stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF during the fourth quarter worth approximately $46,000. Finally, Janney Montgomery Scott LLC raised its position in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 10.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,175 shares of the company’s stock valued at $4,516,000 after purchasing an additional 2,321 shares during the period.
About iShares U.S. Broker-Dealers & Securities Exchanges ETF
iShares U.S. Broker-Dealers ETF (the Fund), formerly iShares Dow Jones U.S. Broker-Dealers Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Investment Services Index (the Index). The Index measures the performance of the investment services sector of the United States equity market, and includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges.