Brookstone Capital Management Expands Investment in iShares U.S. Home Construction ETF

Brookstone Capital Management significantly increased its investment in the iShares U.S. Home Construction ETF (BATS:ITB – Free Report) during the third quarter of the year, revealing a boost of 516.4% in its holdings, as per the latest disclosure to the Securities & Exchange Commission.

As of the most recent filing, the institutional investor held a total of 13,062 shares of the ETF, following a purchase of an additional 10,943 shares during the quarter. The value of Brookstone's stake in the iShares U.S. Home Construction ETF is approximately $1,660,000, which reflects about 0.05% of the ETF's total shares.

In addition to Brookstone Capital Management, several other hedge funds have also adjusted their positions in the iShares U.S. Home Construction ETF. Notably, Centaurus Financial Inc. made a substantial increase, raising its holdings by 744.1% in the fourth quarter. Following this move, Centaurus now owns 45,622 shares valued at around $4,641,000 after acquiring an additional 40,217 shares last quarter.

Other notable transactions in the fourth quarter included Tortoise Investment Management LLC, which entered a new position in the ETF worth approximately $34,000. Vima LLC and Fisher Asset Management LLC purchased new stakes valued at $27,000 and $342,000, respectively. Additionally, MONECO Advisors LLC also acquired a stake worth around $206,000.

Current Stock Performance

As of the latest trading session, BATS:ITB opened at $123.72. The iShares U.S. Home Construction ETF has demonstrated a range in its stock performance, achieving a 52-week low of $31.19 and a high of $46.56. Key technical indicators show that the ETF's 50-day moving average stands at $120.33, while the 200-day moving average is at $111.70. With a market capitalization of $3.14 billion, the ETF boasts a price-to-earnings (PE) ratio of 11.56 and a beta of 1.41, indicating relatively higher volatility compared to the market.

Overview of the iShares U.S. Home Construction ETF

The iShares U.S. Home Construction ETF, earlier known as the iShares Dow Jones U.S. Home Construction Index Fund, aims to track the performance of the Dow Jones U.S. Select Home Construction Index. This index evaluates the performance of the U.S. home construction sector, including companies involved in the construction of residential properties, as well as manufacturers of mobile and prefabricated homes.

Investors looking for exposure to the home construction market in the U.S. may find the iShares U.S. Home Construction ETF an appealing option, especially with the recent confidence shown by institutional investors like Brookstone Capital Management.

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iShares, Investment, ETF