Moors & Cabot Inc. Cuts Stock Holdings in iShares U.S. Financial Services ETF $IYG

Moors & Cabot Inc. reduced its position in iShares U.S. Financial Services ETF (NYSEARCA:IYG) by 21.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,406 shares of the company’s stock after selling 671 shares during the quarter. Moors & Cabot Inc.’s holdings in iShares U.S. Financial Services ETF were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. acquired a new position in iShares U.S. Financial Services ETF in the 1st quarter worth about $1,049,000. Magnus Financial Group LLC grew its holdings in iShares U.S. Financial Services ETF by 20.6% in the second quarter. Magnus Financial Group LLC now owns 3,659 shares of the company’s stock valued at $313,000 after purchasing an additional 624 shares during the period. Consolidated Capital Management LLC increased its position in shares of iShares U.S. Financial Services ETF by 3.6% in the second quarter. Consolidated Capital Management LLC now owns 6,060 shares of the company’s stock valued at $519,000 after buying an additional 213 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of iShares U.S. Financial Services ETF by 0.7% during the 1st quarter. Cetera Investment Advisers now owns 45,419 shares of the company’s stock worth $3,568,000 after buying an additional 314 shares during the period. Finally, Park Avenue Securities LLC raised its stake in shares of iShares U.S. Financial Services ETF by 4.9% during the 2nd quarter. Park Avenue Securities LLC now owns 5,035 shares of the company’s stock worth $431,000 after buying an additional 234 shares during the period.

iShares U.S. Financial Services ETF Price Performance

Shares of NYSEARCA:IYG opened at $88.66 on Monday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 18.95 and a beta of 1.11. The business’s 50 day moving average price is $88.72 and its 200-day moving average price is $85.73. iShares U.S. Financial Services ETF has a 1 year low of $65.98 and a 1 year high of $91.25.

iShares U.S. Financial Services ETF Profile

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market.