Financial Management Professionals Inc. Raises Holdings in iShares U.S. Insurance ETF (NYSEARCA:IAK)

Financial Management Professionals Inc. lifted its stake in iShares U.S. Insurance ETF (NYSEARCA:IAK) by 36.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,899 shares of the company’s stock after buying an additional 2,128 shares during the quarter. Financial Management Professionals Inc.’s holdings in iShares U.S. Insurance ETF were worth $999,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Moors & Cabot Inc. purchased a new position in iShares U.S. Insurance ETF during the second quarter worth approximately $348,000. Delos Wealth Advisors LLC purchased a new position in iShares U.S. Insurance ETF during the second quarter worth approximately $448,000. Chicago Wealth Management Inc. boosted its position in iShares U.S. Insurance ETF by 2.8% during the second quarter. Chicago Wealth Management Inc. now owns 32,184 shares of the company’s stock worth $3,634,000 after purchasing an additional 876 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in iShares U.S. Insurance ETF by 2,141.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,831 shares of the company’s stock worth $1,901,000 after purchasing an additional 16,080 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in iShares U.S. Insurance ETF by 257.7% during the second quarter. Sunbelt Securities Inc. now owns 2,858 shares of the company’s stock worth $323,000 after purchasing an additional 2,059 shares in the last quarter.

iShares U.S. Insurance ETF Trading Down 0.3 %

Shares of IAK stock opened at $128.11 on Friday. The company has a market capitalization of $711.01 million, a P/E ratio of 17.19 and a beta of 0.40. The business’s 50 day moving average is $129.92 and its two-hundred day moving average is $126.15. iShares U.S. Insurance ETF has a 12-month low of $101.85 and a 12-month high of $139.08.

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.