Comerica Bank Trims Stake in iShares U.S. Utilities ETF (NYSEARCA:IDU)

Comerica Bank reduced its stake in iShares U.S. Utilities ETF (NYSEARCA:IDU) by 8.2% during the fourth quarter, HoldingsChannel reports. The firm owned 9,176 shares of the company’s stock after selling 817 shares during the period. Comerica Bank’s holdings in iShares U.S. Utilities ETF were worth $883,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in iShares U.S. Utilities ETF during the fourth quarter valued at approximately $18,143,000. Arrien Investments Inc. purchased a new stake in shares of iShares U.S. Utilities ETF in the 4th quarter valued at $7,166,000. Three Seasons Wealth LLC bought a new position in shares of iShares U.S. Utilities ETF during the 4th quarter valued at $6,591,000. CPR Investments Inc. purchased a new position in iShares U.S. Utilities ETF in the 4th quarter worth $2,373,000. Finally, Wealthstar Advisors LLC bought a new stake in iShares U.S. Utilities ETF in the fourth quarter worth $1,665,000.

iShares U.S. Utilities ETF Stock Down 0.3%

NYSEARCA IDU opened at $101.94 on Wednesday. The company has a 50-day simple moving average of $100.16 and a two-hundred day simple moving average of $100.02. iShares U.S. Utilities ETF has a 12-month low of $87.03 and a 12-month high of $106.16. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 21.40 and a beta of 0.57.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market.