iShares Dow Jones U.S. Broker-Dealers Index Fund (IAI:$87.21) rises to test 87.0 12 February 2021

NEWS BITES - ETF

iShares Dow Jones U.S. Broker-Dealers Index Fund (NYSE:IAI), rebounded after hitting a low for the day of $86.10 and rose back to test the 87.0 hurdle.

The ETF price has increased $1.09 (or 1.3%) from its last trading session of February 11 to close at $87.21Compared with the Morgan Stanley Capital International USA Index [MSCI USA] which rose 54.0 points (0.5%) in the day for a relative price increase of 0.8%.

Its MCap is $222.4 million.

The volume was 0.8 times the average daily trading of 31,530 units.

NET ASSET VALUE release date 12 February, 2021

The Net Asset Value (NAV) of the ETF is $86.12 and it last traded at a premium of 1.262% to NAV.

IAIToday1 Day agoWeek agoMonth ago
Price, USD87.2186.3385.3687.3
NAV, USD86.1286.36
Price/NAV1.011.0
MSCI USA11,083.6411,029.5910,669.34

THE PAST WEEK [Price down 0.1% to $86.12]

In the past week the ETF rose on 3 days, fell on 1 day and was untraded on 1 day.

DAYHeadlineClose price [USD]Price Change %Comment
Feb 11(IAI:$86.12) decreases on weak volume86.12-0.24Steepest Fall
Feb 10(IAI:$86.33) in its biggest weekly gain for 1 month86.330.1
Feb 09(IAI:$86.24) rises for a fourth consecutive day, a four-day rise of 2.9%86.240.05
Feb 08(IAI:$86.20) increases 1.0%, climbs 6.0% for week86.20.98Top Rise

SECTION 1

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

1.1 Technicals:

+ The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 85.15 minus the 26-day EMA of 84.76 is positive 0.39 suggesting a bullish signal. Both EMA prices are rising, another bullish signal.

+ In the last three months the ETF has hit a new 52-week high nineteen times, pointing to a significant uptrend.

+ The present value of $1,000 (PV1000) invested one year ago in iShares Dow Jones U.S. Broker-Dealers Index Fund is $1,250, comprising a capital gain of $235 and dividend reinvested of $15. 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.P1,0229991,250
MSCI World1,0221,0201,158
MSCI USA1,0191,0251,211

+ The present value of USD1,000 (PV1000) invested ten years ago in iShares Dow Jones U.S. Broker-Dealers Index Fund is $3,863, for a capital gain of $2,863.

+ 10 years Multiplier in USD = 3.863x

+ Compound Annual Growth Rate (CAGR) in USD = 14.5%

1.2 High Performance Indicators:

DescriptionValueRank In Market
Price/MAP2001.29In Top Quartile
Price/MAP501.14In Top Quartile
Price Change %1.3In Top Quartile
% Prem to Vol Wtd Price4.0In Top Quartile

SECTION 2

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

2.1 Technicals:

+ The price decreased 0.1% in the last month. The fall was on volume of 1.1 times average for month.

+ The 0.5% discount to 12-month high of $87.62 against the 107.7% premium to 12-month low of $41.99 suggests the climb might be peaking.

2.2 Overbought/Bearish/Resistance Signals:

+ The ETF is overbought according to the Williams % R indicator of -0.5, suggesting the price is close to its 14-day high of $87.25.

2.3 Low Performance Indicator:

DescriptionValueRank In Market
Volatility %1.3In Bottom Quartile

SECTION 3

PRICE VOLUME DYNAMICS

3.1 Momentum:

+ Volume: there were 24,700 units worth $2.2 million traded today. In the past week, volume was 0.7 times average and the units were up 2.2%.

3.2 Performance Indicator:

DescriptionValueRank In Market
Today's Turnover$2.2 millionIn 2nd Quartile

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

Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Feb 01-057.73.640.8
Nov 09-136.71.84.90.6
Nov 23-275.32.52.82.3

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

Mon-FriChange %MSCI USA Change %RPC %Vol Ind [1 is avg]
Jan 25-29-6.1-3.4-2.71.7
Jan 18-22-21-31.3
Dec 07-11-1.4-0.8-0.60.6

3.5 Trailing 3 months

Turnover$170.5 million
Volume2,129,400
Volume Index (1 is avg)1.0

3.6 Trailing Price Change %

3-Year price change of 44.2% for IAI outperformed the change of 37.4% in the Morgan Stanley Capital International World Index [MSCI World] for a relative price change of 6.7%.

Price Change %QuarterYear3 Years
IAI28.723.544.2
MSCI World11.416.437.4

3.7 MCap: 5-Year Increase of $53 million

In the past 5 years Market Capitalization has increased by $53.3 million (32%) from $166.3 million to $219.6 million. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.

Close PriceMCap ($ M)
Last$86.12219.6
1 Year ago$70.89265.7
2 Years ago$58.18221.6
3 Years ago$60.50201
4 Years ago$49.50221.9
5 Years ago$31.60166.3

3.8 Moving Annual Return of 24.4% in the past year:

Moving Annual Return was 24.4% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 26.2%. The Moving Annual Return has been positive in 4 of the last 5 years.

IAIClose ($)Dividends ($)Capital Gain / (Loss) %% YieldAnnual Return %
Feb 1287.210.6823.5124.4
1 Yr ago70.641.0421.21.823.0
2 Yrs ago58.270.51(3.7)0.8(2.8)
3 Yrs ago60.50.8622.21.724.0
4 Yrs ago49.50.73602.462.4

Close 5 years ago $30.94

3.9 Year-on-Year Comparison (Trailing year - ended 29 Jan)

In the past 5 years, IAI has jumped 135.4% from 33.68 to 79.29, an average annual compound rise of 18.7%.

202120202019201820172016
Close79.2970.2558.7864.2649.0733.68
% 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 Range41.99 - 87.6256 - 71.450.46 - 67.9746.64 - 64.9530.47 - 49.426.76 - 42.08

3.10 Beta:

+ Beta: the Beta is 1.1. A Beta greater than 1 suggests this is a high risk, high return ETF with volatility greater than that of the market.

SECTION 4

RANKING

4.1 Global Rank out of 5,064 ETFs

The present value of $US1,000 invested a year ago is $US1,250, ranking it 969 out of 5,064 ETFs. Its 6-month relative strength (or price percentile rank) in USD is 89.

DescriptionValueRankQuartile
Net Assets (US$)444.3M1019Top
Price/NAV1.01494Second
Rel Strength 6 Mo (US$)89549Top
PV$1000 (1Year) US$1,250969Top

4.2 Rank in the Total United States ETF Market [out of 1,612 ETFs]

DescriptionValueRank
Rel Strength 6 Mon ($)84260
PV1000-1Year ($)1,250380

SECTION 5

ANALYST RECOMMENDATION

DateBrokerageActionCurrent RatingPast Rating
Jul 31,2020XTF Inc.Upgrade6.7 out of 106.5 out of 10
May 25,2020Ned Davis Research GroupDOWNGRADE-6.5 out of 10
Mar 31,2020Morningstar, Inc.Upgrade5 out of 56.5 out of 10

SECTION 6

REPORTED BUYING AND SELLING

6.1 Top 31 Institutional Holders of iShares Dow Jones U.S. Broker-Dealers Index Fund as at September 30, 2020

The top 31 institutional shareholders held 38.3% units of iShares Dow Jones U.S. Broker-Dealers Index Fund. The largest shareholder was Morgan Stanley with 14.2% of iShares Dow Jones U.S. Broker-Dealers Index Fund. The second largest shareholder was McGuire Investment Group with 4.2%.

*Note: Minimum Core Shareholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of shareholding above the minimum core holding may be indicative of a potential positioning by the institution to overweight.

Institution (CIK)ETFsHolding %Value $Minimum Core Holding*% Above Min Core Holding*
Morgan Stanley (0000895421)227,24114.214.1 M227,2410
McGuire Investment Group (0001756959)66,6214.24.1 M66,0150.92
UBS Group (0001610520)36,9522.32.3 M35,6823.6
Main Management (0001583092)34,6002.22.1 M34,6000
Meitav Dash Investments (0001398346)31,5112.02 M5,200506
LPL Financial (0001403438)29,9591.91.9 M29,9590
Citadel Advisors (0001423053)25,4591.61.6 M9,208176
Cavalier Investments (0001655543)22,0001.41.4 M4,554383
Wells Fargo & Co (0000072971)19,7601.21.2 M16,43520.2
Bank of America (0000070858)18,2681.11.1 M18,2680
Credit Suisse (0000824468)16,2901.01 M4,068300
Jane Street Group (0001595888)15,3090.96949,3454,738223
Royal Bank of Canada (0001000275)10,6150.66658,2602,236375
Alpine Woods Capital Investors (0001226886)10,5000.66651,12810,5000
Synovus Financial (0000018349)7,2020.45446,6127,2020
Leuthold Group (0001170152)5,2550.33325,8745,2550
Raymond James Financial Services Advisors (0001462284)4,6880.29290,7134,6880
BB&T (0000092230)3,9690.25246,1263,9690
Envestnet Asset Management (0001407543)3,7480.23232,4221,359176
Koshinski Asset Management (0001633389)3,1850.2197,5093,1850
Next Financial Group (0001616654)2,9190.18181,0142,9190
HCR Wealth Advisors (0001697715)2,8140.18174,5022,8140
Tower Research Capital (TRC) (0001533421)2,7010.17167,4952,7010
Centaurus Financial (0000891943)2,4590.15152,4882,4590
FMR (0000315066)2,1020.13130,3501,83814.4
JP Morgan Chase & Co (0000019617)2,0000.13124,0242,0000
Northwestern Mutual Wealth Management Co (0001141802)1,2660.0878,50776565
Citigroup (0000831001)8940.0655,4398940
Advisor Group Holdings (0001677044)7770.0548,1837770
Steward Partners Investment Advisory (0001723397)7000.0443,4097000
Sowell Financial Services (0001633697)4750.0329,4564750
Held by Top 31612,23938.2738 million - -

6.2 Major Increases in Top 31 institutional shareholders September 30, 2020 vs June 30, 2020

Meitav Dash Investments increased their shareholding in iShares Dow Jones U.S. Broker-Dealers Index Fund by 14,759 units worth $ 925,019. Jane Street Group increased their shareholding by 10,571 units worth $ 662,537.

Institution (CIK)Increase in ETFsIncrease Value, $
Meitav Dash Investments (0001398346)14,759925,019
Jane Street Group (0001595888)10,571662,537
Wells Fargo & Co (0000072971)3,325208,394
UBS Group (0001610520)1,27079,597
McGuire Investment Group (0001756959)60637,981
Total30,531

6.3 Major Decreases in Top 31 institutional shareholders September 30, 2020 vs June 30, 2020

Morgan Stanley reduced their shareholding in iShares Dow Jones U.S. Broker-Dealers Index Fund by 50,310 units worth $ 3.2 million. Royal Bank of Canada reduced their shareholding by 37,831 units worth $ 2.4 million.

Institution (CIK)Decrease in ETFsDecrease Value, $
Morgan Stanley (0000895421)50,310(3.2 M)
Royal Bank of Canada (0001000275)37,831(2.4 M)
Tower Research Capital (TRC) (0001533421)17,637(1.1 M)
Citadel Advisors (0001423053)16,992(1.1 M)
Bank of America (0000070858)6,937(434,776)
LPL Financial (0001403438)4,051(253,896)
Synovus Financial (0000018349)3,283(205,762)
Raymond James Financial Services Advisors (0001462284)2,156(135,127)
JP Morgan Chase & Co (0000019617)2,050(128,484)
Koshinski Asset Management (0001633389)782(49,012)
Total142,029

6.4 New Entrants in Top 31 institutional shareholders as at September 30, 2020

Institution (CIK)ETFsValue, $
Cavalier Investments (0001655543)22,0001.4 M
Leuthold Group (0001170152)5,255325,874
Next Financial Group (0001616654)2,919181,014
Centaurus Financial (0000891943)2,459152,488
Northwestern Mutual Wealth Management Co (0001141802)1,26678,507
Total33,899

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

7.3 IAI ETF Dashboard [traded in US Dollar, USD]

Feb 12 close$87.21
Feb 12 NAV$86.12
Price/NAV1.01
Ave Daily Volume31,530 units
52-Week Range (In USD)41.99 - 87.62
Dividend Yield0.8%
Units Outstanding2,550,000
No. Held by Institutions1,435,735
% of units outstanding48.7%
Market Cap$222.4 million

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:0.3
Dividend Date:June 15, 2020
Dividend Yield:0.8%
Annual Dividend:68.16c

SECTION 9

TOP HOLDINGS & PORTFOLIO ALLOCATION

9.1 Top Holdings (November 08, 2020)

HoldingsWeight (%)
Morgan Stanley19.1
Goldman Sachs Group Inc17.9
CME Group Inc Class A10.8
Charles Schwab Corp6.9
MarketAxess Holdings Inc5.8
Raymond James Financial Inc4.8
Nasdaq Inc4.7
Intercontinental Exchange Inc4.6
Cboe Global Markets Inc4.3
LPL Financial Holdings Inc3.7

9.2 Asset Allocation (October 30, 2020)

Asset Class%
Domestic Stock99.8
Cash0.2

9.3 Market Cap Breakdown (October 30, 2020)

Market Cap%
Large Cap59.1
Mid Cap27
Small Cap13.3
Micro Cap0.6

IAI.P

CIK: 1100663

CUSIP: 464288794

Source: www.BuySellSignals.com