Sovran Advisors LLC Makes New $920,000 Investment in iShares U.S. Utilities ETF $IDU

Sovran Advisors LLC purchased a new stake in iShares U.S. Utilities ETF (NYSEARCA:IDU) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 8,169 shares of the company’s stock, valued at approximately $920,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new position in iShares U.S. Utilities ETF in the second quarter valued at about $25,000. Hilltop National Bank purchased a new stake in shares of iShares U.S. Utilities ETF in the 2nd quarter valued at approximately $38,000. Assetmark Inc. acquired a new position in shares of iShares U.S. Utilities ETF in the 2nd quarter worth approximately $41,000. Sound Income Strategies LLC boosted its position in shares of iShares U.S. Utilities ETF by 87.1% during the 3rd quarter. Sound Income Strategies LLC now owns 434 shares of the company’s stock worth $50,000 after purchasing an additional 202 shares during the period. Finally, Davis Capital Management purchased a new position in shares of iShares U.S. Utilities ETF during the 3rd quarter worth approximately $52,000.

iShares U.S. Utilities ETF Stock Up 0.7%

Shares of NYSEARCA IDU opened at $109.26 on Tuesday. The business’s 50 day moving average is $109.55 and its two-hundred day moving average is $109.93. iShares U.S. Utilities ETF has a 52-week low of $91.91 and a 52-week high of $117.74. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 21.72 and a beta of 0.61.

About iShares U.S. Utilities ETF

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.