iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Stock Price Down 1% – Here’s What Happened

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) shares dropped 1% during mid-day trading on Thursday. The company traded as low as $179.87 and last traded at $181.08. 50,234 shares traded hands during trading, a decline of 57% from the average session volume of 116,072 shares. The stock had previously closed at $182.83.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Trading Down 1.0%

The firm’s fifty day moving average price is $189.52 and its 200 day moving average price is $181.30. The firm has a market capitalization of $1.36 billion, a PE ratio of 23.81 and a beta of 1.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont purchased a new position in iShares U.S. Broker-Dealers & Securities Exchanges ETF during the second quarter worth approximately $35,000. Nemes Rush Group LLC purchased a new stake in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF in the fourth quarter valued at approximately $46,000. Parallel Advisors LLC increased its position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 310.0% in the first quarter. Parallel Advisors LLC now owns 410 shares of the company’s stock valued at $67,000 after buying an additional 310 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF during the 2nd quarter worth approximately $175,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 7.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,979 shares of the company’s stock worth $4,429,000 after buying an additional 1,804 shares during the period.

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.