Avantax Advisory Services Inc. Purchases 2,293 Shares of iShares U.S. Insurance ETF (NYSEARCA:IAK)

Avantax Advisory Services Inc. raised its position in iShares U.S. Insurance ETF (NYSEARCA:IAK) by 15.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,972 shares of the company’s stock after buying an additional 2,293 shares during the quarter. Avantax Advisory Services Inc.’s holdings in iShares U.S. Insurance ETF were worth $2,339,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in iShares U.S. Insurance ETF in the 4th quarter valued at approximately $8,119,000. Miracle Mile Advisors LLC lifted its stake in iShares U.S. Insurance ETF by 84.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 112,787 shares of the company’s stock valued at $15,543,000 after purchasing an additional 51,749 shares during the last quarter. Jackson Wealth Management LLC bought a new position in iShares U.S. Insurance ETF in the 1st quarter valued at approximately $5,020,000. Tepp RIA LLC lifted its stake in iShares U.S. Insurance ETF by 596.8% in the 1st quarter. Tepp RIA LLC now owns 25,691 shares of the company’s stock valued at $3,540,000 after purchasing an additional 22,004 shares during the last quarter. Finally, Adapt Wealth Advisors LLC lifted its stake in iShares U.S. Insurance ETF by 47.2% in the 4th quarter. Adapt Wealth Advisors LLC now owns 57,384 shares of the company’s stock valued at $7,257,000 after purchasing an additional 18,401 shares during the last quarter.

iShares U.S. Insurance ETF Price Performance

Shares of NYSEARCA:IAK opened at $128.04 on Wednesday. The company has a market cap of $742.63 million, a price-to-earnings ratio of 14.11 and a beta of 0.83. The firm has a 50 day simple moving average of $132.11 and a 200 day simple moving average of $131.63. iShares U.S. Insurance ETF has a one year low of $113.76 and a one year 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.