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 stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $192.25 and last traded at $192.20, with a volume of 5877 shares changing hands. The stock had previously closed at $188.50.

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

The business has a 50-day simple moving average of $181.58 and a 200 day simple moving average of $177.51. The firm has a market cap of $1.46 billion, a P/E 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 hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC purchased a new stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF in the fourth quarter worth $8,043,000. IFP Advisors Inc increased its position in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 12,637.6% during the 3rd quarter. IFP Advisors Inc now owns 33,500 shares of the company’s stock valued at $5,925,000 after purchasing an additional 33,237 shares during the period. Ameriprise Financial Inc. raised its holdings in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 3.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 122,669 shares of the company’s stock worth $21,714,000 after purchasing an additional 3,811 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 130.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,467 shares of the company’s stock worth $733,000 after purchasing an additional 2,527 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 10.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 25,175 shares of the company’s stock worth $4,516,000 after purchasing an additional 2,321 shares during the period.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Company Profile

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.