iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Shares Down 1% – Should You Sell?

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI)’s share price fell 1% during mid-day trading on Thursday. The company traded as low as $179.87 and last traded at $181.08. Approximately 50,234 shares changed hands during trading, a decline of 57% from the average daily volume of 116,072 shares. The stock had previously closed at $182.83.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Stock Down 1.0%

The company’s 50 day moving average price is $189.52 and its 200 day moving average price is $181.30. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 23.81 and a beta of 1.08.

Hedge Funds Weigh In On iShares U.S. Broker-Dealers & Securities Exchanges ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF during the 2nd quarter valued at about $35,000. FNY Investment Advisers LLC purchased a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF in the second quarter worth about $175,000. Parallel Advisors LLC lifted its holdings in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 310.0% during the first quarter. Parallel Advisors LLC now owns 410 shares of the company’s stock worth $67,000 after purchasing an additional 310 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 130.3% during the first quarter. Bank of New York Mellon Corp now owns 4,467 shares of the company’s stock worth $733,000 after purchasing an additional 2,527 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 26,979 shares of the company’s stock valued at $4,429,000 after buying an additional 1,804 shares during the last quarter.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Company Profile

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.