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

iShares U.S. Insurance ETF (NYSEARCA:IAK) shares saw an uptick in trading volume on Thursday . 268,565 shares were traded during mid-day 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 Price Performance

The stock has a market cap of $531.99 million, a price-to-earnings ratio of 14.11 and a beta of 0.51. The company’s 50 day moving average is $143.14 and its 200 day moving average is $135.94.

Institutional Investors Weigh In On iShares U.S. Insurance ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. MML Investors Services LLC boosted its stake in shares of iShares U.S. Insurance ETF by 48.8% during the 2nd quarter. MML Investors Services LLC now owns 218,944 shares of the company’s stock worth $29,439,000 after acquiring an additional 71,783 shares in the last quarter. Bank of America Corp DE increased its stake in iShares U.S. Insurance ETF by 6.7% in the 2nd quarter. Bank of America Corp DE now owns 123,116 shares of the company’s stock valued at $16,554,000 after purchasing an additional 7,703 shares in the last quarter. Raymond James Financial Inc. raised its holdings in iShares U.S. Insurance ETF by 64.0% during the second quarter. Raymond James Financial Inc. now owns 94,246 shares of the company’s stock worth $12,672,000 after purchasing an additional 36,786 shares during the last quarter. GGM Financials LLC raised its holdings in iShares U.S. Insurance ETF by 2.2% during the fourth quarter. GGM Financials LLC now owns 72,781 shares of the company’s stock worth $9,909,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its position in iShares U.S. Insurance ETF by 1.1% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 50,194 shares of the company’s stock worth $6,834,000 after purchasing an additional 546 shares in the last quarter.

iShares U.S. Insurance ETF Company Profile

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.