Global exchange-traded fund - iShares Dow Jones U.S. Broker-Dealers Index Fund

USA

iShares Dow Jones U.S. Broker-Dealers Index Fund falls in weak trading with rising open interest 21 September, 2018

NEWS BITES - ETF

iShares Dow Jones U.S. Broker-Dealers Index Fund (NYSE:IAI), ending a three-day streak of rises. The ETF price has decreased 18.65c (or 0.3%) from its last trading session of September 20, 2018 to close at $US65.30. Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which fell 4.1 points (0.1%) in the day, the relative price change was -0.2%. The ETF open interest lifted 2.7% from 292 to 300. Combined with the price decrease of 0.3% this suggests the price of iShares Dow Jones U.S. Broker-Dealers Index Fund's ETF is weak. Its MCap is $US359.2 million.

NET ASSET VALUE release date 20 September, 2018

The Net Asset Value (NAV) of the ETF is $US65.47 and it last traded at a discount of 0.254% to NAV.

IAIToday1 Day agoWeek agoMonth ago
Price, USD65.365.1464.6664.89
NAV, USD65.4765.0464.6164.8
Price/NAV1.01.01.01.0
MSCI USA7,763.787,767.847,705.027,586.18

THE PAST YEAR

iShares Dow Jones U.S. Broker-Dealers Index Fund jumps 18% in past year

iShares Dow Jones U.S. Broker-Dealers Index Fund (P:IAI), jumped $US10.04 (or 18.2%) in the past year to close at $US65.30 today. Compared with the Morgan Stanley Capital International USA Index which has risen 18.3% over the same period, this is a relative price change of -0.1%.

SECTION 1

ISHARES DOW JONES U.S. BROKER-DEALERS INDEX FUND BEARISH SIGNALS

1.1 Technicals:

+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 64.85 minus the 26-day EMA of 64.96 is negative 0.11 suggesting a bearish signal.

1.2 Open Interest:

DurationOpen Interest change %Price change %Interpretation
1-day2.7-0.3Weak Market

Put Call Trend1 Day1 Week1 MonthInterpretation
Put Call Ratio Change %0.64.4155.4Downtrend

1.3 Low Performance Indicator:

DescriptionValueRank In Market
Price Change %-0.3In Bottom Quartile

SECTION 2

ISHARES DOW JONES U.S. BROKER-DEALERS INDEX FUND BULLISH SIGNALS

2.1 Technicals:

+ The price increased 1.0% in the last week and 0.6% in the last month.

+ The present value of $US1,000 (PV1000) invested one year ago in iShares Dow Jones U.S. Broker-Dealers Index Fund is $US1,190, comprising a capital gain of $US182 and dividend reinvested of $US8. A comparison with Morgan Stanley Capital International World Index [MSCI World] and Morgan Stanley Capital International USA Index [MSCI USA] is shown below:

PV$10001-week1-month1-year
IAI.P1,0101,0061,190
MSCI World1,0151,0081,105
MSCI USA1,0081,0091,187

+ The present value of USD1,000 (PV1000) invested three years ago in iShares Dow Jones U.S. Broker-Dealers Index Fund is $US1,818, including a capital gain of $US741 and dividend reinvested of $US77.

+ 3 years Multiplier in USD = 1.818x

+ Compound Annual Growth Rate (CAGR) in USD = 21.8%

2.2 High Performance Indicator:

DescriptionValueRank In Market
Today's Turnover$US1.2 millionIn Top Quartile

SECTION 3

PRICE VOLUME DYNAMICS

3.1 Technicals:

+ Volume: there were 17,861 units worth $US1.2 million traded today. In the past week, volume was 0.4 times average and the units were up 1.0%. The volume was 0.3 times the average daily trading of 59,714 units.

+ iShares Dow Jones U.S. Broker-Dealers Index Fund is at a discount of 7.5% to its 12-month high of $US70.58 on March 12. It is also at a premium of 18.6% to the 12-month low of $US55.04 on September 22, 2017.

3.2 The Best 3 weeks in the past quarter [Relative Price Change or RPC]

Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Jul 16-202.202.20.9
Jul 09-131.11.5-0.40.4
Aug 13-1710.60.50.3

3.3 The Worst 3 weeks in the past quarter [Relative Price Change or RPC]

Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Jun 25-29-4-1.3-2.61.4
Jul 30-Aug 03-2.60.8-3.40.6
Jun 18-22-1.6-0.9-0.70.4

3.4 Trailing 3 months

TurnoverUS$176.8 million
Volume2,709,191
Volume Index (1 is avg)0.7

3.5 Trailing Price Change %

3-Year price change of 74.1% for IAI outperformed the change of 34.9% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 39.2%.

Price Change %QuarterYear3 Years
IAI-3.318.274.1
MSCI World4.510.134.9

3.6 MCap: 2-Year Perspective

In the past 2 years Market Capitalization has increased by $US266.2 million from $US94 million to $US360.2 million. Based on a dynamic start date of 2 years ago, there has been no decline in MCap over the last 2 years.

Close PriceMCap (US$ M)
Last$US65.49360.2
1 Year ago$US55.06160.7
2 Years ago$US40.8694

3.7 Moving Annual Return (Past 5 years)

Based on a dynamic start date of 5 years ago, the Moving Annual Return has been positive in 4 of the last 5 years. An investment a year ago in IAI would have produced a return of 18.9%.

IAIClose (USD)Dividends (USD)Capital Gain / (Loss) %% YieldAnnual Return %
Sep 2165.30.418.20.718.9
1 Yr ago55.260.7835.41.937.3
2 Yrs ago40.820.788.82.110.9
3 Yrs ago37.50.45(3.0)1.2(1.8)
4 Yrs ago38.660.524.81.626.4

Close 5 years ago $US30.98

3.8 Year-on-Year Comparison (Trailing year - ended 31 Aug)

In the past 5 years, IAI has jumped 123.8% from 29.27 to 65.51, an average annual compound rise of 17.5%.

201820172016201520142013
Close65.5153.2940.638.8837.2229.27
% Price Change2150.2-1815.921.843.5
Avg Daily Volume54,05033,86840,65457,02898,86552,909
VWP64.6249.4138.4240.7636.1427.43
Turnover Period6 mo4 mo2 mo7 mo2 mo3 mo
Price Range51.55 - 70.5839.79 - 54.9231.64 - 42.1827.79 - 43.6929.34 - 37.919.47 - 30.95

3.9 Beta:

+ Beta: the Beta is 0.9. A Beta lower than 1 suggests this is a low risk, low return ETF with volatility less than that of the market.

SECTION 4

RANKING

4.1 Global Rank out of 5,391 ETFs

The present value of $US1,000 invested a year ago is $US1,190, ranking it 474 out of 5,391 ETFs. Its 6-month relative strength (or price percentile rank) in USD is 43.

DescriptionValueRankQuartile
Net Assets (US$)444.3M999Top
Price/NAV1.01687Top
Rel Strength 6 Mo (US$)433095Third
PV$1000 (1Year) US$1,190474Top

4.2 Rank in the Total United States ETF Market [out of 1,530 ETFs]

DescriptionValueRank
Net Assets ($US)444.3M531
Rel Strength 6 Mon ($US)321038
PV1000-1Year ($US)1,190228

SECTION 5

ANALYST RECOMMENDATION

DateBrokerageActionCurrent RatingPast Rating
Jan 31,2018Morningstar, Inc.Upgrade4 out of 5
Oct 31,2017XTF Inc.Upgrade8.8 out of 108.5 out of 10
Mar 31,2017S&P Capital IQUpgrade--
Oct 10,2016Ned Davis Research GroupUPGRADE--

SECTION 6

REPORTED BUYING AND SELLING

6.1 Institutional Buying and Selling Quarter Ended June 30

Total reported Institutional buying = 931,632 ETFs

Total reported Institutional selling = 734,735 ETFs

Net reported institutional buying = 196,897 ETFs

6.2 Reported Holdings of Institutions as at Jun 30, 2018

Total = 4,214,966 ETFs

Market Value = $US272.2 million

6.3 Top 40 Institutional Holders of iShares Dow Jones U.S. Broker-Dealers Index Fund as at June 30, 2018

The top 40 institutional shareholders held 74.6% units of iShares Dow Jones U.S. Broker-Dealers Index Fund. The largest shareholder was Morgan Stanley with 11.47% of iShares Dow Jones U.S. Broker-Dealers Index Fund. The second largest shareholder was MEITAV DASH INVESTMENTS LTD with 10.18%.

Institution (CIK)ETFsHolding %Value $USDUnrealised Gain/(Loss)*
Morgan Stanley (0000895421)630,86511.4740.7 M44,791
MEITAV DASH INVESTMENTS LTD (0001398346)560,00710.1836.2 M39,760
Bank of Montreal, CAN (0000927971)483,0608.7831.2 M34,297
Janney Capital Management LLC (0001569855)471,2708.5730.4 M33,460
Wells Fargo & Company (0000072971)316,5055.7520.4 M22,472
UBS Group AG (0001610520)209,2873.8113.5 M14,859
Bank of America Corp, DE (0000070858)151,5402.769.8 M10,759
Baker Avenue Asset Management, LP (0001432529)142,0582.589.2 M10,086
LPL Financial LLC (0001403438)110,5982.017.1 M7,852
Barometer Capital Management Inc. (0001536890)101,0001.846.5 M7,171
Brookstone Capital Management (0001599584)100,0771.826.5 M7,105
Royal Bank Of Canada (0001000275)98,6981.796.4 M7,008
Cornerstone Wealth Management, LLC (0001674117)74,0611.354.8 M5,258
Raymond James (0001084208)63,3861.154.1 M4,500
Financial Management Professionals, Inc. (0001568132)54,3710.993.5 M3,860
Credit Suisse AG (0000824468)51,4420.943.3 M3,652
Raymond James Financial Services Advisors, Inc. (0001462284)41,6340.762.7 M2,956
Oppenheimer & Co Inc. (0000822581)36,8870.672.4 M2,619
Citadel Advisors LLC (0001423053)35,9940.652.3 M2,556
Main Management LLC (0001583092)34,6000.632.2 M2,457
Stifel Financial Corp (0000720672)33,2270.62.1 M2,359
Jane Street Group, LLC (0001595888)32,3080.592.1 M2,294
NWAM LLC (0001655006)30,9550.562 M2,198
JP Morgan Chase & Co (0000019617)29,7940.541.9 M2,115
1832 Asset Management L.P. (0000944388)23,9950.441.5 M1,704
Tower Research Capital LLC (TRC) (0001533421)23,0120.421.5 M1,634
Altfest L J & Co Inc. (0000712050)18,2140.331.2 M1,293
MML Investors Services, LLC (0000701059)18,0280.331.2 M1,280
Arcus Capital Partners, LLC (0001651960)17,4370.321.1 M1,238
First Allied Advisory Services, Inc. (0001512647)15,7910.291 M1,121
Cookson Peirce & Co Inc. (0001141455)12,4900.23806,729887
Advisor Group, Inc. (0001681115)12,0260.22776,759854
Ladenburg Thalmann Financial Services Inc. (0001029730)10,0810.18651,132716
Synovus Financial Corp (0000018349)10,0710.18650,486715
Goldman Sachs Group Inc. (0000886982)9,7890.18632,272695
Janney Montgomery Scott LLC (0001329948)7,8650.14508,000558
Beck Capital Management, LLC (0001601904)7,5990.14490,819540
CIBC World Markets Inc. (0001421224)7,5620.14488,430537
Private Advisor Group, LLC (0001567755)6,5080.12420,352462
Cetera Advisor Networks LLC (0001534468)6,2440.11403,300443
Held by Top 404,100,33674.56264.8 million

*Note: Unrealised profit/(loss) is computed on the basis of ETFs held at end of quarter times current week price of $US64.66 less price at end of quarter of $US64.59.

6.4 Major Increases in Top 40 institutional shareholders June 30, 2018 vs March 31, 2018

Bank of Montreal, CAN increased their shareholding in iShares Dow Jones U.S. Broker-Dealers Index Fund by 447,855 units worth USD 29.8 million. MEITAV DASH INVESTMENTS LTD increased their shareholding by 197,937 units worth USD 13.2 million.

Institution (CIK)Increase in ETFsChange, $USD
Bank of Montreal, CAN (0000927971)447,85529.8 M
MEITAV DASH INVESTMENTS LTD (0001398346)197,93713.2 M
UBS Group AG (0001610520)132,8858.8 M
Wells Fargo & Company (0000072971)21,6911.4 M
Morgan Stanley (0000895421)18,9201.3 M
Baker Avenue Asset Management, LP (0001432529)14,414958,371
Royal Bank Of Canada (0001000275)9,983663,759
Raymond James (0001084208)9,402625,129
Oppenheimer & Co Inc. (0000822581)8,535567,483
Altfest L J & Co Inc. (0000712050)8,475563,494
Advisor Group, Inc. (0001681115)6,613439,691
Stifel Financial Corp (0000720672)1,947129,454
Goldman Sachs Group Inc. (0000886982)1,09672,872
Beck Capital Management, LLC (0001601904)40026,596
Cookson Peirce & Co Inc. (0001141455)20013,298
Total880,353

6.5 Major Decreases in Top 40 institutional shareholders June 30, 2018 vs March 31, 2018

Private Advisor Group, LLC reduced their shareholding in iShares Dow Jones U.S. Broker-Dealers Index Fund by 19,733 units worth USD 1.3 million. Citadel Advisors LLC reduced their shareholding by 17,537 units worth USD 1.2 million.

Institution (CIK)Decrease in ETFsChange, $USD
Private Advisor Group, LLC (0001567755)19,733(1.3 M)
Citadel Advisors LLC (0001423053)17,537(1.2 M)
Jane Street Group, LLC (0001595888)14,337(953,252)
Barometer Capital Management Inc. (0001536890)9,200(611,698)
Bank of America Corp, DE (0000070858)8,129(540,488)
First Allied Advisory Services, Inc. (0001512647)5,155(342,750)
Raymond James Financial Services Advisors, Inc. (0001462284)3,522(234,174)
MML Investors Services, LLC (0000701059)2,500(166,222)
1832 Asset Management L.P. (0000944388)2,043(135,837)
Brookstone Capital Management (0001599584)872(57,978)
Arcus Capital Partners, LLC (0001651960)303(20,146)
JP Morgan Chase & Co (0000019617)144(9,574)
LPL Financial LLC (0001403438)88(5,851)
Total83,563

6.6 New Entrants in Top 40 institutional shareholders as at June 30, 2018

Institution (CIK)ETFsValue, $USD
Janney Capital Management LLC (0001569855)471,27030.4 M
Cornerstone Wealth Management, LLC (0001674117)74,0614.8 M
Financial Management Professionals, Inc. (0001568132)54,3713.5 M
Credit Suisse AG (0000824468)51,4423.3 M
NWAM LLC (0001655006)30,9552 M
Tower Research Capital LLC (TRC) (0001533421)23,0121.5 M
Janney Montgomery Scott LLC (0001329948)7,865508,000
CIBC World Markets Inc. (0001421224)7,562488,430
Cetera Advisor Networks LLC (0001534468)6,244403,300
Total726,782

6.7 Drop Outs from Top 40 institutional shareholders as at June 30, 2018

Institution (CIK)ETFsValue, $USD
Davenport & Co LLC (0000887777)4,722304,994
Creative Planning (0001540235)4,696303,315
Envestnet Asset Management Inc. (0001407543)1,35987,778
Total10,777

SECTION 7

PROFILE

7.1 Description

iShares Dow Jones U.S. Broker-Dealers Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Investment Services Index (the Index). The Index measures the performance of the investment services sector of the United States equity market. The Index includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Fund's investment advisor is Barclays Global Fund Advisors.

7.2 SNAPSHOT

iShares Dow Jones U.S. Broker-Dealers Index Fund (NYSE:IAI)

ISIN: US4642887941

Inception DateMay 05, 2006
Expense Ratio0.4% of average net assets
CategorySector Fund-Financial Service
Fund Family NameiShares
Index TrackedDow Jones U.S. Select Investment Services Index
Asset ClassEquity ETF

7.3 ETF Summary

Last$US65.49
Volume22,124
Volume Index (1 is avg)0.4
Market Cap$US360.2 million
Day's Range65.17 - 65.67
Units Outstanding5,500,000
Relative Strength (3 mo)20

7.4 Fund Managers and Management Fees

+ The managers of the ETF are Greg Savage and Diane Hsiung. The management fee is 0.47% of total assets

SECTION 8

DIVIDEND

Dividend:0.2
Dividend Date:December 19, 2017
Dividend Yield:0.6%
Annual Dividend:40.10c

SECTION 9

TOP HOLDINGS & PORTFOLIO ALLOCATION

9.1 Top Holdings (July 27, 2018)

HoldingsWeight (%)
Goldman Sachs Group Inc10.1
Morgan Stanley9.1
Charles Schwab Corp8.7
CME Group Inc8.7
Intercontinental Exchange Inc7.8
E*TRADE Financial Corp4.8
TD Ameritrade Holding Corp4.5
Cboe Global Markets Inc4.5
Nasdaq Inc4.1
Raymond James Financial Inc4.1

9.2 Asset Allocation (July 16, 2018)

Asset Class%
Common equity99.9
ETF Cash Component0.1

IAI.P

CIK: 1100663

CUSIP: 464288794

Source: www.BuySellSignals.com