Eastern Bank Invests $113,000 in iShares U.S. Broker-Dealers & Securities Exchanges ETF

Eastern Bank has made a strategic move by acquiring a new stake in the iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) during the third quarter, as reported by Holdings Channel. The institution purchased 880 shares of the ETF, which amounts to an investment of approximately $113,000.

This recent investment follows a trend as other institutional investors have also adjusted their holdings in IAI. Notably, Cambridge Trust Co. initiated a new position in the ETF in the first quarter, with an investment of $102,000. In the subsequent quarter, 9258 Wealth Management LLC acquired shares worth about $378,000. Additionally, the Bank of New York Mellon Corp bought into the ETF with a stake valued at approximately $584,000 during the same quarter. Transcend Capital Advisors LLC made a significant investment of around $1,423,000, while WestEnd Advisors LLC took a substantial interest worth about $91,839,000 in the iShares U.S. Broker-Dealers & Securities Exchanges ETF during the second quarter.

Current Trading Performance of IAI

As of Friday, the iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) was trading at $136.07. The ETF has a market capitalization of $1.29 billion and a price-to-earnings ratio of 19.09, with a beta of 0.95. Additionally, the stock has a 50-day moving average of $128.67 and a 200-day moving average of $121.37. Over the past year, IAI has seen a low of $85.10 and a high of $138.74.

About iShares U.S. Broker-Dealers & Securities Exchanges ETF

The iShares U.S. Broker-Dealers ETF, formerly known as the iShares Dow Jones U.S. Broker-Dealers Index Fund, is an exchange-traded fund (ETF) that aims to mirror the price and yield performance of the Dow Jones U.S. Select Investment Services Index. This index tracks the performance of the U.S. investment services sector, including entities that provide various specialized financial services such as securities brokers, dealers, online brokerage firms, and exchanges for securities or commodities.

Additional Information

Investors interested in the latest 13F filings and insider trades for the iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) can visit financial platforms or news sources that provide this data.

For anyone wanting to stay informed on the latest news and ratings regarding the iShares U.S. Broker-Dealers & Securities Exchanges ETF and related companies, subscribing to relevant information sources can be beneficial.

Investment, ETF, Finance