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

Financial Management Professionals Inc. purchased a new position in shares of iShares U.S. Insurance ETF (NYSEARCA:IAK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,771 shares of the company’s stock, valued at approximately $745,000. Financial Management Professionals Inc. owned approximately 0.10% of iShares U.S. Insurance ETF at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IAK. Fortis Group Advisors LLC acquired a new stake in shares of iShares U.S. Insurance ETF during the 1st quarter worth $6,539,000. Spectrum Wealth Counsel LLC boosted its stake in iShares U.S. Insurance ETF by 12,119.3% in the second 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 in the last quarter. Private Advisor Group LLC raised its stake in iShares U.S. Insurance ETF by 299.0% during the second quarter. Private Advisor Group LLC now owns 50,724 shares of the company’s stock worth $5,728,000 after acquiring an additional 38,012 shares in the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of iShares U.S. Insurance ETF in the 2nd quarter valued at approximately $3,967,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of iShares U.S. Insurance ETF during the 2nd quarter valued at approximately $3,845,000.

iShares U.S. Insurance ETF Price Performance

Shares of NYSEARCA:IAK opened at $127.86 on Friday. iShares U.S. Insurance ETF has a one year low of $90.92 and a one year high of $133.82. The company has a market cap of $709.62 million, a price-to-earnings ratio of 17.19 and a beta of 0.40. The firm has a 50 day simple moving average of $128.42 and a 200 day simple moving average of $119.72.

iShares U.S. Insurance ETF Company 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.