Magnus Financial Group LLC Buys 624 Shares of iShares U.S. Financial Services ETF $IYG

Magnus Financial Group LLC increased its stake in shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) by 20.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,659 shares of the company’s stock after purchasing an additional 624 shares during the quarter. Magnus Financial Group LLC’s holdings in iShares U.S. Financial Services ETF were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IYG. Sequoia Financial Advisors LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the first quarter worth $248,000. Brown Advisory Inc. bought a new stake in iShares U.S. Financial Services ETF during the 1st quarter worth $1,049,000. Cambridge Investment Research Advisors Inc. increased its holdings in iShares U.S. Financial Services ETF by 15.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,640 shares of the company’s stock worth $1,386,000 after purchasing an additional 2,354 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in iShares U.S. Financial Services ETF by 53.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,720 shares of the company’s stock worth $528,000 after purchasing an additional 2,348 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in iShares U.S. Financial Services ETF by 0.7% in the first quarter. Cetera Investment Advisers now owns 45,419 shares of the company’s stock valued at $3,568,000 after purchasing an additional 314 shares during the last quarter.

iShares U.S. Financial Services ETF Trading Up 0.6%

Shares of IYG stock opened at $89.79 on Friday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 18.95 and a beta of 1.16. The business’s 50-day moving average price is $88.24 and its 200-day moving average price is $82.83. iShares U.S. Financial Services ETF has a 12 month low of $65.98 and a 12 month high of $91.25.

iShares U.S. Financial Services ETF Company Profile

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