iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Strong Trading Volume – Should You Buy?

iShares U.S. Insurance ETF (NYSEARCA:IAK) saw unusually-strong trading volume on Thursday . 268,565 shares traded hands during trading, an increase of 221% from the previous session’s volume of 83,612 shares.The stock last traded at $145.30 and had previously closed at $144.37.

iShares U.S. Insurance ETF Stock Up 0.6%

The company’s fifty day moving average is $142.57 and its 200-day moving average is $135.76. The company has a market cap of $530.35 million, a PE ratio of 14.11 and a beta of 0.51.

Hedge Funds Weigh In On iShares U.S. Insurance ETF

A number of institutional investors and hedge funds have recently modified their holdings of IAK. Turtle Creek Wealth Advisors LLC purchased a new stake in iShares U.S. Insurance ETF during the first quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in iShares U.S. Insurance ETF in the fourth quarter worth about $31,000. Flagship Harbor Advisors LLC bought a new stake in shares of iShares U.S. Insurance ETF during the 4th quarter valued at about $34,000. Trust Co. of Vermont purchased a new stake in shares of iShares U.S. Insurance ETF during the 2nd quarter valued at about $35,000. Finally, National Bank of Canada FI increased its position in shares of iShares U.S. Insurance ETF by 61.5% during the 3rd quarter. National Bank of Canada FI now owns 260 shares of the company’s stock valued at $35,000 after purchasing an additional 99 shares during the last quarter.

About iShares U.S. Insurance ETF

The iShares U.S. Insurance ETF (IAK) is an exchange-traded fund that is based on the DJ US Select \u002F Insurance index. The fund tracks a market-cap index of US insurance companies. IAK was launched on May 1, 2006 and is managed by BlackRock.