HighTower Advisors LLC Cuts Stock Position in iShares U.S. Insurance ETF (NYSEARCA:IAK)

HighTower Advisors LLC trimmed its stake in shares of iShares U.S. Insurance ETF (NYSEARCA:IAK) by 73.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,310 shares of the company’s stock after selling 9,201 shares during the period. HighTower Advisors LLC’s holdings in iShares U.S. Insurance ETF were worth $426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IAK. Hilltop Holdings Inc. acquired a new position in shares of iShares U.S. Insurance ETF in the 3rd quarter valued at $360,000. L.M. Kohn & Company acquired a new position in shares of iShares U.S. Insurance ETF in the third quarter valued at approximately $250,000. FMR LLC raised its holdings in iShares U.S. Insurance ETF by 64.5% during the third quarter. FMR LLC now owns 2,603 shares of the company’s stock worth $336,000 after purchasing an additional 1,021 shares in the last quarter. Larson Financial Group LLC lifted its holdings in iShares U.S. Insurance ETF by 6.3% in the third quarter. Larson Financial Group LLC now owns 1,766 shares of the company’s stock valued at $228,000 after acquiring an additional 105 shares during the period. Finally, WESPAC Advisors LLC grew its holdings in shares of iShares U.S. Insurance ETF by 20.6% in the 3rd quarter. WESPAC Advisors LLC now owns 10,828 shares of the company’s stock worth $1,397,000 after acquiring an additional 1,850 shares during the period.

iShares U.S. Insurance ETF Trading Up 1.3 %

Shares of IAK opened at $126.02 on Friday. iShares U.S. Insurance ETF has a 12-month low of $97.60 and a 12-month high of $139.08. The company has a 50-day moving average of $131.36 and a two-hundred day moving average of $124.46. The stock has a market cap of $699.41 million, a P/E ratio of 17.19 and a beta of 0.40.

iShares U.S. Insurance ETF Profile

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.