iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Stock Price Up 1.5% – Should You Buy?

Shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) were up 1.5% during trading on Thursday. The company traded as high as $177.74 and last traded at $177.49. 72,898 shares changed hands during trading, a decline of 36% from the average daily volume of 113,982 shares. The stock had previously closed at $174.82.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Stock Down 0.9%

The stock has a market cap of $1.27 billion, a PE ratio of 23.81 and a beta of 1.09. The firm has a fifty day moving average of $186.14 and a 200 day moving average of $182.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 7.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,979 shares of the company’s stock worth $4,429,000 after acquiring an additional 1,804 shares in the last quarter. Bank of New York Mellon Corp increased its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 130.3% in the first quarter. Bank of New York Mellon Corp now owns 4,467 shares of the company’s stock valued at $733,000 after purchasing an additional 2,527 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in iShares U.S. Broker-Dealers & Securities Exchanges ETF in the second quarter valued at approximately $175,000. Parallel Advisors LLC increased its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 310.0% in the first quarter. Parallel Advisors LLC now owns 410 shares of the company’s stock valued at $67,000 after purchasing an additional 310 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in iShares U.S. Broker-Dealers & Securities Exchanges ETF in the second quarter valued at approximately $35,000.

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.