Royal Bank of Canada Sells 29,290 Shares of iShares U.S. Utilities ETF $IDU

Royal Bank of Canada reduced its stake in shares of iShares U.S. Utilities ETF (NYSEARCA:IDU) by 16.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 149,406 shares of the company’s stock after selling 29,290 shares during the period. Royal Bank of Canada’s holdings in iShares U.S. Utilities ETF were worth $17,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IDU. Apollon Wealth Management LLC bought a new position in shares of iShares U.S. Utilities ETF during the fourth quarter worth $631,000. Koshinski Asset Management Inc. bought a new stake in iShares U.S. Utilities ETF in the 4th quarter valued at $1,467,000. Lifestyle Asset Management Inc. lifted its stake in iShares U.S. Utilities ETF by 96.2% in the 4th quarter. Lifestyle Asset Management Inc. now owns 28,852 shares of the company’s stock worth $3,126,000 after purchasing an additional 14,145 shares in the last quarter. Summit Financial Consulting LLC boosted its holdings in shares of iShares U.S. Utilities ETF by 10.9% during the 4th quarter. Summit Financial Consulting LLC now owns 65,479 shares of the company’s stock valued at $7,095,000 after purchasing an additional 6,446 shares during the last quarter. Finally, Buck Wealth Strategies LLC bought a new stake in iShares U.S. Utilities ETF in the 4th quarter worth approximately $853,000.

iShares U.S. Utilities ETF Price Performance

Shares of IDU opened at $110.29 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 21.72 and a beta of 0.58. iShares U.S. Utilities ETF has a 1 year low of $105.06 and a 1 year high of $120.82. The business’s 50 day simple moving average is $113.68 and its 200-day simple moving average is $114.55.

iShares U.S. Utilities ETF Profile

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.