Riggs Capital Management LLC Acquires New Shares in iShares U.S. Financial Services ETF (NYSEARCA:IYG)

Riggs Capital Management LLC purchased a new stake in shares of iShares U.S. Financial Services ETF (NYSEARCA:IYG) during the fourth quarter, Holdings Channel reports. The firm purchased 4,580 shares of the company’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IYG. RiverFront Investment Group LLC lifted its holdings in iShares U.S. Financial Services ETF by 3.3% in the fourth quarter. RiverFront Investment Group LLC now owns 1,556,433 shares of the company’s stock worth $121,106,000 after buying an additional 49,743 shares during the period. Raymond James Financial Inc. bought a new position in iShares U.S. Financial Services ETF during the fourth quarter valued at approximately $43,292,000. LPL Financial LLC grew its holdings in shares of iShares U.S. Financial Services ETF by 4.5% in the fourth quarter. LPL Financial LLC now owns 434,621 shares of the company’s stock worth $33,818,000 after acquiring an additional 18,688 shares during the period. Baltimore Washington Financial Advisors Inc. increased its position in shares of iShares U.S. Financial Services ETF by 2.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 389,794 shares of the company’s stock valued at $30,330,000 after purchasing an additional 8,000 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in iShares U.S. Financial Services ETF by 2.0% during the fourth quarter. JPMorgan Chase & Co. now owns 266,673 shares of the company’s stock valued at $20,750,000 after buying an additional 5,103 shares during the last quarter.

iShares U.S. Financial Services ETF Stock Down 2.1 %

NYSEARCA IYG opened at $77.67 on Monday. The company has a market capitalization of $1.67 billion, a P/E ratio of 16.68 and a beta of 1.17. iShares U.S. Financial Services ETF has a 52 week low of $62.13 and a 52 week high of $84.91. The stock’s 50-day moving average price is $81.13 and its 200-day moving average price is $78.10.

iShares U.S. Financial Services ETF 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.