Independent Financial Group LLC Makes New Investment in iShares Mortgage Real Estate ETF $REM

Independent Financial Group LLC acquired a new stake in iShares Mortgage Real Estate ETF (BATS:REM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 125,408 shares of the company’s stock, valued at approximately $2,693,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of iShares Mortgage Real Estate ETF by 66.1% during the first quarter. Royal Bank of Canada now owns 216,758 shares of the company’s stock valued at $4,864,000 after purchasing an additional 86,263 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of iShares Mortgage Real Estate ETF by 16.0% in the first quarter. Goldman Sachs Group Inc. now owns 10,956 shares of the company’s stock valued at $246,000 after purchasing an additional 1,511 shares in the last quarter. Raymond James Financial Inc. raised its position in iShares Mortgage Real Estate ETF by 85.3% in the 2nd quarter. Raymond James Financial Inc. now owns 133,338 shares of the company’s stock worth $2,851,000 after purchasing an additional 61,364 shares during the last quarter. Bank of America Corp DE raised its position in iShares Mortgage Real Estate ETF by 1.9% in the 2nd quarter. Bank of America Corp DE now owns 523,995 shares of the company’s stock worth $11,203,000 after purchasing an additional 9,681 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in iShares Mortgage Real Estate ETF by 4,415,611.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 397,414 shares of the company’s stock worth $8,497,000 after buying an additional 397,405 shares in the last quarter.

iShares Mortgage Real Estate ETF Stock Performance

BATS:REM opened at $22.29 on Friday. The company has a market cap of $575.08 million, a price-to-earnings ratio of 14.69 and a beta of 1.33. The stock’s fifty day moving average price is $21.88 and its two-hundred day moving average price is $22.26. iShares Mortgage Real Estate ETF has a 52-week low of $20.41 and a 52-week high of $24.05.

About iShares Mortgage Real Estate ETF

The iShares Mortgage Real Estate Capped ETF (REM) is an exchange-traded fund that is based on the FTSE Nareit All Mortgage Capped index, a market-cap-weighted index of residential and commercial mortgage REITs. REM was launched on May 1, 2007 and is managed by BlackRock.