iShares U.S. Insurance ETF (NYSEARCA:IAK) Stake Lowered by Chicago Wealth Management Inc.

Chicago Wealth Management Inc. trimmed its stake in shares of iShares U.S. Insurance ETF (NYSEARCA:IAK) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,775 shares of the company’s stock after selling 814 shares during the quarter. iShares U.S. Insurance ETF comprises 2.0% of Chicago Wealth Management Inc.’s holdings, making the stock its 17th biggest position. Chicago Wealth Management Inc. owned about 0.55% of iShares U.S. Insurance ETF worth $3,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of iShares U.S. Insurance ETF during the fourth quarter valued at $8,119,000. GGM Financials LLC acquired a new stake in shares of iShares U.S. Insurance ETF in the fourth quarter worth about $7,878,000. Castleark Management LLC acquired a new position in iShares U.S. Insurance ETF during the third quarter valued at approximately $8,010,000. Miracle Mile Advisors LLC bought a new stake in iShares U.S. Insurance ETF during the fourth quarter valued at about $7,720,000. Finally, WESPAC Advisors SoCal LLC lifted its holdings in shares of iShares U.S. Insurance ETF by 1,097.2% during the third quarter. WESPAC Advisors SoCal LLC now owns 50,523 shares of the company’s stock worth $6,520,000 after buying an additional 46,303 shares during the last quarter.

iShares U.S. Insurance ETF Trading Down 0.3 %

IAK opened at $132.94 on Wednesday. The stock’s 50 day simple moving average is $128.94 and its 200-day simple moving average is $129.44. iShares U.S. Insurance ETF has a 1 year low of $109.09 and a 1 year high of $139.08. The stock has a market cap of $737.82 million, a PE ratio of 12.99 and a beta of 0.80.

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.