iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Unusually-High Trading Volume – Still a Buy?

iShares U.S. Insurance ETF (NYSEARCA:IAK) saw unusually-strong trading volume on Thursday . Approximately 135,965 shares changed hands during trading, an increase of 102% from the previous session’s volume of 67,205 shares.The stock last traded at $133.7950 and had previously closed at $133.45.

iShares U.S. Insurance ETF Trading Up 0.3%

The company has a 50-day simple moving average of $130.94 and a 200 day simple moving average of $131.68. The company has a market cap of $655.93 million, a P/E ratio of 14.11 and a beta of 0.65.

Institutional Investors Weigh In On iShares U.S. Insurance ETF

A number of large investors have recently made changes to their positions in the stock. Miracle Mile Advisors LLC increased its holdings in shares of iShares U.S. Insurance ETF by 11.5% during the 3rd quarter. Miracle Mile Advisors LLC now owns 244,175 shares of the company’s stock valued at $32,727,000 after purchasing an additional 25,249 shares in the last quarter. MML Investors Services LLC grew its position in iShares U.S. Insurance ETF by 48.8% in the second quarter. MML Investors Services LLC now owns 218,944 shares of the company’s stock worth $29,439,000 after acquiring an additional 71,783 shares during the period. LPL Financial LLC grew its stake in shares of iShares U.S. Insurance ETF by 37.7% in the first quarter. LPL Financial LLC now owns 159,813 shares of the company’s stock valued at $22,024,000 after buying an additional 43,716 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in iShares U.S. Insurance ETF by 58.6% in the second quarter. Osaic Holdings Inc. now owns 129,238 shares of the company’s stock valued at $17,377,000 after purchasing an additional 47,763 shares during the period. Finally, Bank of America Corp DE grew its holdings in iShares U.S. Insurance ETF by 6.7% during the 2nd quarter. Bank of America Corp DE now owns 123,116 shares of the company’s stock worth $16,554,000 after acquiring an additional 7,703 shares in the last quarter.

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.