Northwestern Mutual Wealth Management Co. Acquires 82,102 Shares of iShares U.S. Financial Services ETF $IYG

Northwestern Mutual Wealth Management Co. increased its holdings in shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) by 279.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 111,441 shares of the company’s stock after purchasing an additional 82,102 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in iShares U.S. Financial Services ETF were worth $10,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IYG. Sagespring Wealth Partners LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth approximately $53,175,000. Kozak & Associates Inc. raised its stake in shares of iShares U.S. Financial Services ETF by 30.8% during the third quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock worth $35,875,000 after buying an additional 98,267 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of iShares U.S. Financial Services ETF by 79.4% during the third quarter. Ameriprise Financial Inc. now owns 188,153 shares of the company’s stock worth $16,853,000 after buying an additional 83,297 shares during the last quarter. Unique Wealth LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth approximately $5,518,000. Finally, Centerline Wealth Advisors LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth approximately $4,686,000.

iShares U.S. Financial Services ETF Price Performance

IYG opened at $87.20 on Friday. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 18.95 and a beta of 0.98. The firm has a 50 day simple moving average of $85.21 and a 200 day simple moving average of $88.21. iShares U.S. Financial Services ETF has a fifty-two week low of $79.86 and a fifty-two week high of $95.75.

About iShares U.S. Financial Services ETF

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.