iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Large Volume Increase – Should You Buy?

Shares of iShares U.S. Insurance ETF (NYSEARCA:IAK) saw strong trading volume on Wednesday . 74,544 shares changed hands during trading, an increase of 5% from the previous session’s volume of 70,761 shares.The stock last traded at $137.06 and had previously closed at $137.81.

iShares U.S. Insurance ETF Trading Down 0.4 %

The firm has a market capitalization of $805.64 million, a PE ratio of 12.85 and a beta of 0.80. The stock has a 50 day simple moving average of $131.98 and a 200 day simple moving average of $130.43.

Institutional Investors Weigh In On iShares U.S. Insurance ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IAK. MML Investors Services LLC lifted its holdings in iShares U.S. Insurance ETF by 3.4% in the 4th quarter. MML Investors Services LLC now owns 226,048 shares of the company’s stock worth $28,588,000 after buying an additional 7,490 shares during the period. SPC Financial Inc. increased its position in iShares U.S. Insurance ETF by 0.3% during the 4th quarter. SPC Financial Inc. now owns 167,855 shares of the company’s stock valued at $21,229,000 after purchasing an additional 434 shares during the period. Royal Bank of Canada increased its position in iShares U.S. Insurance ETF by 1.9% during the 4th quarter. Royal Bank of Canada now owns 155,233 shares of the company’s stock valued at $19,633,000 after purchasing an additional 2,905 shares during the period. Stifel Financial Corp raised its holdings in iShares U.S. Insurance ETF by 13.4% in the 4th quarter. Stifel Financial Corp now owns 145,734 shares of the company’s stock worth $18,431,000 after purchasing an additional 17,208 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of iShares U.S. Insurance ETF by 17.4% during the 4th quarter. Advisory Services Network LLC now owns 93,719 shares of the company’s stock valued at $11,853,000 after purchasing an additional 13,910 shares in the last quarter.

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.