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

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI)’s stock price were down 1% during trading on Thursday. The company traded as low as $179.87 and last traded at $181.08. Approximately 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 Stock Performance

The firm has a market capitalization of $1.36 billion, a P/E ratio of 23.81 and a beta of 1.08. The firm has a 50 day moving average price of $189.37 and a two-hundred day moving average price of $181.30.

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

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 130.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,467 shares of the company’s stock worth $733,000 after purchasing an additional 2,527 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 7.2% during the first quarter. Janney Montgomery Scott LLC now owns 26,979 shares of the company’s stock valued at $4,429,000 after buying an additional 1,804 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF during the second quarter valued at about $175,000. Parallel Advisors LLC boosted its holdings 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 worth $67,000 after buying an additional 310 shares during the period. Finally, Nemes Rush Group LLC acquired a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF in the fourth quarter worth about $46,000.

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.