iShares U.S. Insurance ETF (NYSEARCA:IAK) Hits New 1-Year High – Here’s Why

iShares U.S. Insurance ETF (NYSEARCA:IAK)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $130.58 and last traded at $130.58, with a volume of 47680 shares changing hands. The stock had previously closed at $128.49.

iShares U.S. Insurance ETF Price Performance

The business’s 50-day moving average price is $124.74 and its 200 day moving average price is $118.09. The firm has a market capitalization of $727.66 million, a price-to-earnings ratio of 17.19 and a beta of 0.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in shares of iShares U.S. Insurance ETF by 6.2% in the 1st quarter. Osaic Holdings Inc. now owns 173,135 shares of the company’s stock valued at $20,311,000 after purchasing an additional 10,148 shares in the last quarter. Fortis Group Advisors LLC increased its stake in iShares U.S. Insurance ETF by 16.1% during the second quarter. Fortis Group Advisors LLC now owns 64,687 shares of the company’s stock valued at $7,304,000 after purchasing an additional 8,980 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings in shares of iShares U.S. Insurance ETF by 0.7% during the second quarter. Legend Financial Advisors Inc. now owns 55,741 shares of the company’s stock worth $6,294,000 after purchasing an additional 406 shares during the period. Spectrum Wealth Counsel LLC boosted its holdings in shares of iShares U.S. Insurance ETF by 12,119.3% in the 2nd quarter. Spectrum Wealth Counsel LLC now owns 53,765 shares of the company’s stock valued at $6,071,000 after buying an additional 53,325 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of iShares U.S. Insurance ETF by 299.0% in the 2nd quarter. Private Advisor Group LLC now owns 50,724 shares of the company’s stock valued at $5,728,000 after buying an additional 38,012 shares during the period.

About iShares U.S. Insurance ETF

The iShares U.S. Insurance ETF (IAK) is an exchange-traded fund that is based on the DJ US Select \u002F Insurance index. The fund tracks a market-cap index of US insurance companies. IAK was launched on May 1, 2006 and is managed by BlackRock.