iShares U.S. Insurance ETF (NYSEARCA:IAK – Get Free Report) shot up 0.4% during mid-day trading on Wednesday . The company traded as high as $139.79 and last traded at $139.02. 78,854 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 63,159 shares. The stock had previously closed at $138.53.
iShares U.S. Insurance ETF Stock Up 0.4%
The company has a market capitalization of $389.26 million, a price-to-earnings ratio of 14.11 and a beta of 0.52. The stock has a 50 day simple moving average of $132.71 and a 200 day simple moving average of $132.97.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors grew its stake in iShares U.S. Insurance ETF by 4.8% during the 1st quarter. Arkadios Wealth Advisors now owns 7,638 shares of the company’s stock worth $980,000 after buying an additional 349 shares during the last quarter. Gateway Wealth Partners LLC bought a new stake in iShares U.S. Insurance ETF in the first quarter valued at $307,000. Cetera Investment Advisers boosted its holdings in shares of iShares U.S. Insurance ETF by 100.1% during the first quarter. Cetera Investment Advisers now owns 20,725 shares of the company’s stock valued at $2,659,000 after acquiring an additional 10,366 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of iShares U.S. Insurance ETF by 5.7% during the first quarter. Wealthfront Advisers LLC now owns 1,675 shares of the company’s stock valued at $215,000 after acquiring an additional 90 shares during the period. Finally, Northstar Financial Companies Inc. boosted its holdings in shares of iShares U.S. Insurance ETF by 107.3% during the first quarter. Northstar Financial Companies Inc. now owns 14,286 shares of the company’s stock valued at $1,833,000 after acquiring an additional 7,393 shares during the period.
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.
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