Concurrent Investment Advisors LLC Raises Stock Position in iShares U.S. Telecommunications ETF (BATS:IYZ)

Concurrent Investment Advisors LLC raised its stake in iShares U.S. Telecommunications ETF (BATS:IYZ) by 5.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 51,117 shares of the exchange traded fund’s stock after buying an additional 2,613 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in iShares U.S. Telecommunications ETF were worth $1,371,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new position in iShares U.S. Telecommunications ETF in the third quarter valued at about $27,000. Global Retirement Partners LLC increased its holdings in iShares U.S. Telecommunications ETF by 301.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,199 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 900 shares in the last quarter. FSA Wealth Management LLC purchased a new position in iShares U.S. Telecommunications ETF in the third quarter valued at about $37,000. CX Institutional purchased a new position in iShares U.S. Telecommunications ETF in the fourth quarter valued at about $215,000. Finally, Mezzasalma Advisors LLC purchased a new position in iShares U.S. Telecommunications ETF in the fourth quarter valued at about $226,000.

iShares U.S. Telecommunications ETF Trading Up 5.7 %

Shares of iShares U.S. Telecommunications ETF stock opened at $28.29 on Friday. iShares U.S. Telecommunications ETF has a 12-month low of $26.56 and a 12-month high of $34.77. The stock has a market cap of $562.87 million, a PE ratio of 18.98 and a beta of 0.88. The company has a 50-day moving average of $27.48 and a two-hundred day moving average of $26.11.

iShares U.S. Telecommunications ETF Company Profile

iShares U.S. Telecommunications ETF (the Fund), formerly iShares Dow Jones U.S. Telecommunications Sector Index Fund, is a non-diversified 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. Select Telecommunications Index (the Index).