Merit Financial Group LLC Raises Stock Holdings in iShares U.S. Financials ETF (NYSEARCA:IYF)

Merit Financial Group LLC raised its position in shares of iShares U.S. Financials ETF (NYSEARCA:IYF) by 73.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,179 shares of the company’s stock after purchasing an additional 3,450 shares during the period. Merit Financial Group LLC’s holdings in iShares U.S. Financials ETF were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of IYF. Choreo LLC boosted its stake in iShares U.S. Financials ETF by 8.4% during the fourth quarter. Choreo LLC now owns 2,576 shares of the company’s stock worth $285,000 after acquiring an additional 200 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of iShares U.S. Financials ETF during the fourth quarter valued at approximately $3,836,000. Moloney Securities Asset Management LLC lifted its holdings in shares of iShares U.S. Financials ETF by 3.7% during the fourth quarter. Moloney Securities Asset Management LLC now owns 85,350 shares of the company’s stock valued at $9,438,000 after purchasing an additional 3,077 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of iShares U.S. Financials ETF in the 4th quarter worth approximately $37,000. Finally, Wealthstar Advisors LLC purchased a new stake in shares of iShares U.S. Financials ETF in the 4th quarter worth approximately $2,158,000.

iShares U.S. Financials ETF Trading Up 1.4%

Shares of NYSEARCA:IYF opened at $116.95 on Friday. The stock has a fifty day simple moving average of $110.91 and a two-hundred day simple moving average of $113.25. iShares U.S. Financials ETF has a 12-month low of $92.00 and a 12-month high of $119.90. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 14.93 and a beta of 1.02.

iShares U.S. Financials ETF Company Profile

iShares U.S. Financials ETF, formerly iShares Dow Jones U.S. Financial Sector Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial sector of the United States equity market, and includes companies in industry groups, such as banks, non-life insurance, life insurance, real estate and general finance.