iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Reaches New 52-Week High – Here’s Why

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $189.65 and last traded at $189.4540, with a volume of 6929 shares traded. The stock had previously closed at $186.46.

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

The company has a market capitalization of $1.74 billion, a PE ratio of 23.81 and a beta of 1.17. The firm has a fifty day simple moving average of $179.30 and a 200-day simple moving average of $175.84.

Institutional Investors Weigh In On iShares U.S. Broker-Dealers & Securities Exchanges ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased its stake in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 12,637.6% in the third quarter. IFP Advisors Inc now owns 33,500 shares of the company’s stock worth $5,925,000 after acquiring an additional 33,237 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 3.2% in the third quarter. Ameriprise Financial Inc. now owns 122,669 shares of the company’s stock valued at $21,714,000 after acquiring an additional 3,811 shares during the last quarter. Q3 Asset Management acquired a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF during the 2nd quarter worth $553,000. Jones Financial Companies Lllp raised its holdings in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 25.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 10,764 shares of the company’s stock valued at $1,886,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 1,700.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,188 shares of the company’s stock valued at $201,000 after purchasing an additional 1,122 shares during the last quarter.

About iShares U.S. Broker-Dealers & Securities Exchanges ETF

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.