“Fmr LLC Lowers Stake in iShares U.S. Real Estate ETF (IYR)”
The iShares U.S. Real Estate ETF (NYSEARCA:IYR) saw a significant change in ownership recently as Fmr LLC lowered its stake in the popular real estate investment trust by 16.5% during the third quarter. The institutional investor sold off 17,454 shares, reducing its holdings to 88,014 shares valued at $6,877,000.
This move by Fmr LLC is part of a larger trend among institutional investors and hedge funds making adjustments to their positions in IYR. Alliancebernstein L.P., Flagstar Advisors Inc., TAGStone Capital Inc., Aveo Capital Partners LLC, and Bank of New York Mellon Corp all made changes to their holdings in the ETF, with some increasing their shares and others selling off.
Shares of IYR opened at $90.85 on Friday, with a fifty-day moving average of $88.38 and a two-hundred day moving average of $84.43. The ETF has a one year low of $72.88 and a high of $92.85, with a market cap of $3.17 billion and a price-to-earnings ratio of 28.43.
iShares U.S. Real Estate ETF, formerly known as iShares Dow Jones U.S. Real Estate Index Fund, seeks to track the price and yield performance of the Dow Jones U.S. Real Estate Index. This index measures the performance of the real estate sector in the U.S. equity market, including companies involved in real estate holding and development, as well as real estate investment trusts (REITs).
Investors looking to stay updated on the latest news and changes in ownership of IYR can visit HoldingsChannel.com for the most recent 13F filings and insider trades. Stay informed with MarketBeat.com’s daily email newsletter for more updates on iShares U.S. Real Estate ETF and related companies.
