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 4 out of last 5 days 19 June, 2018

NEWS BITES - ETF

iShares Dow Jones U.S. Broker-Dealers Index Fund (NYSE:IAI), has decreased 48.0c (or 0.7%). The ETF fell in four out of last 5 trading days, for a 5-day fall of 1.0% to close at $US67.49. Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which fell 30.0 points (0.4%) in the day, the relative price change was -0.3%.

Price Change %1 Month3 Month6 Month1 Year
IAI-1.9-1.07.226.1
MSCI USA2.12.34.115.4

THE PAST TWO YEARS

iShares Dow Jones U.S. Broker-Dealers Index Fund rises for a second consecutive year, a two-year rise of 82%

iShares Dow Jones U.S. Broker-Dealers Index Fund (P:IAI), extended its gains in the past year, rising an additional $US13.96 (26.1%) to close at $US67.49 today. In the previous year the units rose $US16.42 (44.2%). The units have lifted $US30.38 (81.9%) over the past two years, compared with the Morgan Stanley Capital International USA Index which rose 1,998.6 points (37.6%) in the two years for a relative price increase of 44.3%.

SECTION 1

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

1.1 Technicals:

Downtrend: The ETF decreased on weak volume falling for a fourth consecutive day.

+ The price decreased 1.0% in the last week and 1.9% in the last month.

+ Compared with the Morgan Stanley Capital International World Index [MSCI World] which fell 1.6% for the week and 0.4% for the month, this represented a relative price decrease of 0.3% for the week and 4.0% for the month.

1.2 Open Interest:

+ Open interest hit a 13-day low.

Put Call Trend1 Day1 Week1 MonthInterpretation
Put Call Ratio Change %20.923.7104.6Downtrend

SECTION 2

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

2.1 Technicals:

+ The 4.4% discount to 12-month high of $US70.58 against the 30.0% premium to 12-month low of $US51.90 suggests the ETF continues to push for new highs.

+ The present value of $US1,000 (PV1000) invested one year ago in iShares Dow Jones U.S. Broker-Dealers Index Fund is $US1,274, comprising a capital gain of $US261 and dividend reinvested of $US13. 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.P9909811,274
MSCI World9841,0021,090
MSCI USA9931,0181,144

+ The present value of USD1,000 (PV1000) invested five years ago in iShares Dow Jones U.S. Broker-Dealers Index Fund is $US2,312, including a capital gain of $US1,158 and dividend reinvested of $US154.

+ 5 years Multiplier in USD = 2.312x

+ Compound Annual Growth Rate (CAGR) in USD = 18.2%

2.2 High Performance Indicators:

DescriptionValueRank In Market
Price/MAP2001.07In Top Quartile
Today's Turnover$US2.2 millionIn Top Quartile

SECTION 3

PRICE VOLUME DYNAMICS

3.1 Momentum:

+ Volume: there were 32,120 units worth $US2.2 million traded today. In the past week, volume was 0.5 times average and the units were down 1.0%. The volume was 0.6 times the average daily trading of 53,890 units.

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]
May 07-113.12.40.71.4
Jun 04-082.41.70.71.1
Apr 16-202.30.61.71.1

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]
Mar 19-23-7.6-5.9-1.72.2
Apr 23-27-1.6-0.1-1.53.7
May 28-Jun 01-0.90.6-1.50.5

3.4 Trailing 3 months

TurnoverUS$310.7 million
Volume4,675,793
Volume Index (1 is avg)1.3

3.5 Trailing Price Change %

3-Year price change of 50.7% for IAI outperformed the change of 18.6% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 32.1%.

Price Change %QuarterYear3 Years
IAI-126.150.7
MSCI World0.19.818.6

3.6 Moving Annual Return

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 27.2%.

IAIClose (USD)Dividends (USD)Capital Gain / (Loss) %% YieldAnnual Return %
Jun 1967.490.6126.11.127.2
1 Yr ago53.530.7344.2246.2
2 Yrs ago37.110.87(17.1)1.9(15.2)
3 Yrs ago44.780.4717.41.218.6
4 Yrs ago38.140.46221.523.4

Close 5 years ago $US31.28

3.7 Year-on-Year Comparison (Trailing year - ended 31 May)

In the past 5 years, IAI has jumped 120.7% from 30.12 to 66.46, an average annual compound rise of 17.1%.

201820172016201520142013
Close66.4649.8239.4443.636.730.12
% Price Change33.426.3-9.518.821.843.9
Avg Daily Volume51,02033,51643,97958,165104,23042,735
VWP64.0748.9539.0440.1535.526.55
Turnover Period7 mo4 mo2 mo6 mo2 mo4 mo
Price Range49.75 - 70.5834 - 53.9729 - 45.5935.54 - 44.0329.29 - 40.1119.63 - 30.65

SECTION 4

RANKING

4.1 Global Rank out of 5,517 ETFs

The present value of $US1,000 invested a year ago is $US1,274, ranking it 261 out of 5,517 ETFs. Its 6-month relative strength (or price percentile rank) in USD is 89.

DescriptionValueRankQuartile
MCap (US$)472.4M1044Top
Net Assets (US$)477.4M997Top
Rel Strength 6 Mo (US$)89630Top
PV$1000 (1Year) US$1,274261Top

4.2 Rank in the Total United States ETF Market [out of 1,464 ETFs]

DescriptionValueRank
MCap ($US)472.4M514
Net Assets ($US)476.4M522
Rel Strength 6 Mon ($US)84228
PV1000-1Year ($US)1,27476

SECTION 5

ANALYST RECOMMENDATION

DateBrokerageActionCurrent RatingPast Rating
Jan 31,2018Morningstar, Inc.Upgrade4 out of 53 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--
Aug 30,2016Sabrient SystemsDowngrade--

SECTION 6

REPORTED BUYING AND SELLING

6.1 Institutional Buying and Selling Quarter Ended March 31

Total reported Institutional buying = 1,317,689 ETFs

Total reported Institutional selling = 80,095 ETFs

Net reported institutional buying = 1,237,594 ETFs

6.2 Reported Holdings of Institutions as at Mar 31, 2018

Total = 2,907,960 ETFs

Market Value = $US190.3 million

6.3 Top 40 Institutional Holders of iShares Dow Jones U.S. Broker-Dealers Index Fund

The top 40 institutional shareholders held 39.5% units of iShares Dow Jones U.S. Broker-Dealers Index Fund. The largest shareholder was Morgan Stanley with 8.38% of iShares Dow Jones U.S. Broker-Dealers Index Fund. The second largest shareholder was MEITAV DASH INVESTMENTS LTD with 4.96%.

Institution (CIK)ETFsHolding %Value $USD
Morgan Stanley (0000895421)611,9458.3840 M
MEITAV DASH INVESTMENTS LTD (0001398346)362,0704.9623.7 M
Wells Fargo & Company (0000072971)294,8144.0419.3 M
Bank of America Corp, DE (0000070858)159,6692.1910.4 M
Baker Avenue Asset Management, LP (0001432529)127,6441.758.4 M
LPL Financial LLC (0001403438)110,6861.527.2 M
Barometer Capital Management Inc. (0001536890)110,2001.517.2 M
Brookstone Capital Management (0001599584)100,9491.386.6 M
Niemann Capital Management Inc. (0001143892)96,8831.336.3 M
Clark Capital Management Group, Inc. (0001352187)92,7731.276.1 M
Royal Bank Of Canada (0001000275)88,7151.225.8 M
UBS Group AG (0001610520)76,4021.055 M
Raymond James (0001084208)53,9840.743.5 M
Citadel Advisors LLC (0001423053)53,5310.733.5 M
Jane Street Group, LLC (0001595888)46,6450.643.1 M
Raymond James Financial Services Advisors, Inc. (0001462284)45,1560.623 M
Merriman Wealth Management, LLC (0001568389)42,0090.582.7 M
Envestnet Asset Management Inc. (0001407543)41,2200.562.7 M
Bank of Montreal, CAN (0000927971)35,2050.482.3 M
Main Management LLC (0001583092)34,6000.472.3 M
Stifel Financial Corp (0000720672)31,2800.432 M
JP Morgan Chase & Co (0000019617)29,9380.412 M
Oppenheimer & Co Inc. (0000822581)28,3520.391.9 M
Private Advisor Group, LLC (0001567755)26,2410.361.7 M
1832 Asset Management L.P. (0000944388)26,0380.361.7 M
First Allied Advisory Services, Inc. (0001512647)20,9460.291.4 M
MML Investors Services, LLC (0000701059)20,5280.281.3 M
Arcus Capital Partners, LLC (0001651960)17,7400.241.2 M
Csenge Advisory Group (0001715593)13,3490.18873,425
Cookson Peirce & Co Inc. (0001141455)12,2900.17804,135
Ladenburg Thalmann Financial Services Inc. (0001029730)10,0810.14659,600
Synovus Financial Corp (0000018349)10,0710.14658,946
Altfest L J & Co Inc. (0000712050)9,7390.13637,223
Goldman Sachs Group Inc. (0000886982)8,6930.12568,783
Ameriprise Financial Inc. (0000820027)7,9060.11517,290
Beck Capital Management, LLC (0001601904)7,1990.1471,031
Advisor Group, Inc. (0001681115)5,4130.07354,173
Davenport & Co LLC (0000887777)4,7220.06308,960
Creative Planning (0001540235)4,6960.06307,259
Voya Financial Advisors, Inc. (0001424367)4,1270.06270,030
Held by Top 402,884,44939.52188.7 million

6.4 Major Increases in Top 40 institutional shareholders

Morgan Stanley increased their shareholding in iShares Dow Jones U.S. Broker-Dealers Index Fund by 359,335 units worth USD 24 million. MEITAV DASH INVESTMENTS LTD increased their shareholding by 313,239 units worth USD 20.9 million.

Institution (CIK)Increase in ETFsChange, $USD
Morgan Stanley (0000895421)359,33524 M
MEITAV DASH INVESTMENTS LTD (0001398346)313,23920.9 M
Royal Bank Of Canada (0001000275)86,4795.8 M
Wells Fargo & Company (0000072971)68,3024.6 M
Bank of America Corp, DE (0000070858)48,4673.2 M
Citadel Advisors LLC (0001423053)44,3233 M
Clark Capital Management Group, Inc. (0001352187)36,9512.5 M
Bank of Montreal, CAN (0000927971)34,3152.3 M
Envestnet Asset Management Inc. (0001407543)33,5102.2 M
Oppenheimer & Co Inc. (0000822581)24,4241.6 M
Private Advisor Group, LLC (0001567755)21,5821.4 M
Stifel Financial Corp (0000720672)19,5701.3 M
Barometer Capital Management Inc. (0001536890)19,4001.3 M
UBS Group AG (0001610520)16,9271.1 M
Raymond James (0001084208)15,3221 M
Raymond James Financial Services Advisors, Inc. (0001462284)13,740918,377
JP Morgan Chase & Co (0000019617)10,224683,369
Baker Avenue Asset Management, LP (0001432529)7,788520,547
Ladenburg Thalmann Financial Services Inc. (0001029730)6,571439,203
Csenge Advisory Group (0001715593)5,648377,510
Advisor Group, Inc. (0001681115)4,583306,326
First Allied Advisory Services, Inc. (0001512647)4,254284,336
LPL Financial LLC (0001403438)2,458164,292
Altfest L J & Co Inc. (0000712050)33722,525
Synovus Financial Corp (0000018349)281,872
Total1,197,777

6.5 Major Decreases in Top 40 institutional shareholders

Merriman Wealth Management, LLC reduced their shareholding in iShares Dow Jones U.S. Broker-Dealers Index Fund by 4,036 units worth USD 269,765. 1832 Asset Management L.P. reduced their shareholding by 2,150 units worth USD 143,705.

Institution (CIK)Decrease in ETFsChange, $USD
Merriman Wealth Management, LLC (0001568389)4,036(269,765)
1832 Asset Management L.P. (0000944388)2,150(143,705)
Cookson Peirce & Co Inc. (0001141455)570(38,099)
Beck Capital Management, LLC (0001601904)59(3,944)
Total6,815

6.6 New Entrants in Top 40 institutional shareholders

Institution (CIK)ETFsValue, $USD
Brookstone Capital Management (0001599584)100,9496.6 M
Niemann Capital Management Inc. (0001143892)96,8836.3 M
Jane Street Group, LLC (0001595888)46,6453.1 M
MML Investors Services, LLC (0000701059)20,5281.3 M
Arcus Capital Partners, LLC (0001651960)17,7401.2 M
Ameriprise Financial Inc. (0000820027)7,906517,290
Davenport & Co LLC (0000887777)4,722308,960
Creative Planning (0001540235)4,696307,259
Voya Financial Advisors, Inc. (0001424367)4,127270,030
Total304,196

6.7 Drop Outs from Top 40 institutional shareholders

Institution (CIK)ETFsValue, $USD
Credit Suisse AG (0000824468)4,068266,169
SG Americas Securities LLC (0001313360)3,100202,833
Citigroup Inc. (0000831001)1,31485,975
U.S. Bancorp (DE) (0000036104)1,02567,066
Cutler Group LP (0001534270)1006,543
Simplex Trading, LLC (0001488542)593,860
Total9,666

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$US67.97
Volume31,920
Volume Index (1 is avg)0.6
Market Cap$US475.8 million
52-Week Range51.90 - 70.58
Units Outstanding7,000,000
Relative Strength (3 mo)28

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:0.9%
Annual Dividend:60.90c

SECTION 9

TOP HOLDINGS & PORTFOLIO ALLOCATION

9.1 Top Holdings (April 25, 2018)

HoldingsWeight (%)
Goldman Sachs Group Inc9.7
Morgan Stanley9.1
Charles Schwab Corp8.9
CME Group Inc8.2
Intercontinental Exchange Inc7.5
E*TRADE Financial Corp5.1
TD Ameritrade Holding Corp4.8
Nasdaq Inc4
Cboe Global Markets Inc4
Raymond James Financial Inc4

9.2 Market Cap Breakdown (January 29, 2018)

Market Cap%
Large56.7
Mid22.4
Small12.3
Micro8.5

IAI.P

CIK: 1100663

CUSIP: 464288794

Source: www.BuySellSignals.com