Cornerstone Financial Management LLC Makes New Investment in iShares Russell 1000 ETF $IWB

Cornerstone Financial Management LLC acquired a new position in iShares Russell 1000 ETF (NYSEARCA:IWB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,789 shares of the company’s stock, valued at approximately $1,042,000.

A number of other institutional investors have also added to or reduced their stakes in IWB. Focus Partners Wealth raised its holdings in iShares Russell 1000 ETF by 86.1% in the third quarter. Focus Partners Wealth now owns 1,739,749 shares of the company’s stock worth $635,852,000 after purchasing an additional 805,083 shares in the last quarter. Bank of America Corp DE raised its holdings in iShares Russell 1000 ETF by 14.9% in the second quarter. Bank of America Corp DE now owns 4,768,103 shares of the company’s stock worth $1,619,105,000 after purchasing an additional 616,717 shares in the last quarter. Allstate Corp raised its holdings in iShares Russell 1000 ETF by 125.4% in the fourth quarter. Allstate Corp now owns 1,078,170 shares of the company’s stock worth $402,632,000 after purchasing an additional 599,755 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in iShares Russell 1000 ETF in the third quarter worth $133,604,000. Finally, Orion Porfolio Solutions LLC raised its holdings in iShares Russell 1000 ETF by 506.5% in the second quarter. Orion Porfolio Solutions LLC now owns 302,116 shares of the company’s stock worth $102,590,000 after purchasing an additional 252,307 shares in the last quarter.

iShares Russell 1000 ETF Trading Up 0.5%

IWB opened at $405.61 on Friday. The stock has a fifty day simple moving average of $394.63 and a two-hundred day simple moving average of $380.55. The company has a market cap of $47.72 billion, a price-to-earnings ratio of 24.71 and a beta of 1.00. iShares Russell 1000 ETF has a 12-month low of $325.31 and a 12-month high of $415.11.

About iShares Russell 1000 ETF

iShares Russell 1000 ETF (the Fund), formerly iShares Russell 1000 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Russell 1000 Index (the Index). The Index is a float-adjusted capitalization weighted index that measures the performance of the large-capitalization sector of the United States equity market and includes securities issued by the approximately 1,000 largest issuers in the Russell 3000 Index.