Novak & Powell Financial Services Inc. Purchases Stake in iShares Russell Top 200 Growth ETF (NYSEARCA:IWY)

iShares Russell Top 200 Growth ETF Acquires New Stake – Novak & Powell Financial Services Inc.

Novak & Powell Financial Services Inc. recently acquired a new stake in the iShares Russell Top 200 Growth ETF (NYSEARCA:IWY), according to a recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,400 shares of the company’s stock, valued at approximately $245,000.

This acquisition comes as several other large investors have also been buying and selling shares of the iShares Russell Top 200 Growth ETF. Apexium Financial LP, Jackson Wealth Management LLC, Wells Fargo & Company MN, Dynamic Advisor Solutions LLC, and Sequoia Financial Advisors LLC have all increased their stakes in the ETF in recent quarters.

Shares of IWY stock were up 0.5% on Friday, opening at $213.79. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 38.86, and a beta of 1.24. The ETF has a 12-month low of $148.45 and a 12-month high of $213.77.

The iShares Russell Top 200 Growth ETF seeks investment results that correspond generally to the price and yield performance of the Russell Top 200 Growth Index. This index is a style factor weighted index that measures the performance of the largest capitalization growth sector of the United States equity market.

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