iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Hits New 52-Week High – Here’s Why

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $192.25 and last traded at $192.20, with a volume of 5877 shares traded. The stock had previously closed at $188.50.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Stock Performance

The business’s 50-day moving average is $181.58 and its 200-day moving average is $177.51. The company has a market capitalization of $1.46 billion, a PE ratio of 23.81 and a beta of 1.09.

Hedge Funds Weigh In On iShares U.S. Broker-Dealers & Securities Exchanges ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jump Financial LLC purchased a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF during the fourth quarter valued at approximately $8,043,000. IFP Advisors Inc grew its stake in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 12,637.6% in the 3rd quarter. IFP Advisors Inc now owns 33,500 shares of the company’s stock worth $5,925,000 after buying an additional 33,237 shares during the last quarter. Ameriprise Financial Inc. increased its position in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 3.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 122,669 shares of the company’s stock valued at $21,714,000 after buying an additional 3,811 shares in the last quarter. Bank of New York Mellon Corp increased its position in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 130.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,467 shares of the company’s stock valued at $733,000 after buying an additional 2,527 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake 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 buying an additional 2,321 shares during the last quarter.

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.