iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Sees Strong Trading Volume

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) shares saw unusually-high trading volume on Wednesday . Approximately 855,658 shares were traded during mid-day trading, an increase of 792% from the previous session’s volume of 95,904 shares.The stock last traded at $126.85 and had previously closed at $128.08.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Price Performance

The company has a market cap of $1.22 billion, a price-to-earnings ratio of 19.09 and a beta of 0.95. The firm has a 50-day moving average price of $124.22 and a 200 day moving average price of $118.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Trust Co. bought a new stake in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF in the first quarter valued at about $102,000. 9258 Wealth Management LLC acquired a new stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF in the 2nd quarter worth about $378,000. Bank of New York Mellon Corp bought a new stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF in the 2nd quarter valued at about $584,000. Transcend Capital Advisors LLC acquired a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF during the 2nd quarter worth approximately $1,423,000. Finally, Q3 Asset Management increased its holdings in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 7.0% during the first quarter. Q3 Asset Management now owns 14,988 shares of the company’s stock worth $1,735,000 after purchasing an additional 980 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.