M3 Wealth Management LLC Makes New Investment in iShares Russell 1000 ETF $IWB

M3 Wealth Management LLC acquired a new position in shares of iShares Russell 1000 ETF (NYSEARCA:IWB) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 33,698 shares of the company’s stock, valued at approximately $12,584,000. iShares Russell 1000 ETF accounts for 10.0% of M3 Wealth Management LLC’s investment portfolio, making the stock its biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Integrity Alliance LLC. bought a new position in iShares Russell 1000 ETF during the fourth quarter worth $216,000. Cary Street Partners Investment Advisory LLC boosted its position in iShares Russell 1000 ETF by 316.5% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 379 shares of the company’s stock worth $142,000 after purchasing an additional 288 shares during the period. Kestra Investment Management LLC bought a new position in iShares Russell 1000 ETF during the fourth quarter worth $329,000. Box Hill Private Wealth LLC bought a new position in iShares Russell 1000 ETF during the fourth quarter worth $1,806,000. Finally, Cary Street Partners Financial LLC boosted its position in iShares Russell 1000 ETF by 35.3% during the fourth quarter. Cary Street Partners Financial LLC now owns 1,764 shares of the company’s stock worth $659,000 after purchasing an additional 460 shares during the period.

iShares Russell 1000 ETF Price Performance

IWB stock opened at $409.47 on Wednesday. The company has a fifty day moving average price of $381.59 and a two-hundred day moving average price of $376.85. The stock has a market cap of $48.17 billion, a price-to-earnings ratio of 24.71 and a beta of 1.00. iShares Russell 1000 ETF has a one year low of $320.46 and a one year high of $410.31.

About iShares Russell 1000 ETF

iShares Russell 1000 ETF (the Fund), formerly iShares Russell 1000 Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Russell 1000 Index (the Index). The Index is a float-adjusted capitalization weighted index that measures the performance of the large-capitalization sector of the United States equity market and includes securities issued by the approximately 1,000 largest issuers in the Russell 3000 Index.