iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Trading Up 0.9% – Still a Buy?

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) shares rose 0.9% on Tuesday . The stock traded as high as $190.03 and last traded at $189.00. 44,445 shares changed hands during trading, a decline of 64% from the average session volume of 125,057 shares. The stock had previously closed at $187.32.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Stock Up 0.9%

The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 23.81 and a beta of 1.08. The stock’s fifty day moving average price is $184.94 and its 200-day moving average price is $178.01.

Institutional Investors Weigh In On iShares U.S. Broker-Dealers & Securities Exchanges ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in IAI. Nemes Rush Group LLC acquired a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF during the 4th quarter worth about $46,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in iShares U.S. Broker-Dealers & Securities Exchanges ETF during the fourth quarter valued at approximately $48,000. Parallel Advisors LLC boosted its position in 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 valued at $67,000 after purchasing an additional 310 shares during the last quarter. FNY Investment Advisers LLC bought a new position in iShares U.S. Broker-Dealers & Securities Exchanges ETF in the second quarter valued at approximately $175,000. Finally, Farther Finance Advisors LLC grew its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 38.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,806 shares of the company’s stock valued at $503,000 after purchasing an additional 786 shares in the last quarter.

About iShares U.S. Broker-Dealers & Securities Exchanges ETF

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.