Drive Wealth Management LLC Raises Stock Position in iShares Mortgage Real Estate ETF $REM

Drive Wealth Management LLC boosted its holdings in shares of iShares Mortgage Real Estate ETF (BATS:REM) by 388.9% in the second quarter, HoldingsChannel reports. The firm owned 142,151 shares of the company’s stock after buying an additional 113,078 shares during the period. Drive Wealth Management LLC’s holdings in iShares Mortgage Real Estate ETF were worth $3,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in shares of iShares Mortgage Real Estate ETF by 239.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,528 shares of the company’s stock valued at $33,000 after buying an additional 1,078 shares during the last quarter. Phillips Financial Management LLC purchased a new stake in shares of iShares Mortgage Real Estate ETF in the first quarter worth about $51,000. Endowment Wealth Management Inc. acquired a new stake in iShares Mortgage Real Estate ETF during the second quarter worth about $205,000. Goldman Sachs Group Inc. raised its position in iShares Mortgage Real Estate ETF by 16.0% during the first quarter. Goldman Sachs Group Inc. now owns 10,956 shares of the company’s stock valued at $246,000 after acquiring an additional 1,511 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in iShares Mortgage Real Estate ETF by 583.2% in the first quarter. IFP Advisors Inc now owns 11,519 shares of the company’s stock valued at $258,000 after acquiring an additional 9,833 shares during the period.

iShares Mortgage Real Estate ETF Trading Up 0.8%

iShares Mortgage Real Estate ETF stock opened at $21.96 on Monday. The stock has a market cap of $566.57 million, a price-to-earnings ratio of 14.69 and a beta of 1.33. The stock has a 50 day moving average of $22.42 and a 200 day moving average of $21.64.

About iShares Mortgage Real Estate ETF

The iShares Mortgage Real Estate Capped ETF (REM) is an exchange-traded fund that is based on the FTSE Nareit All Mortgage Capped index, a market-cap-weighted index of residential and commercial mortgage REITs. REM was launched on May 1, 2007 and is managed by BlackRock.