Short Interest in iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Expands By 64.2%

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 5,305,014 shares, an increase of 64.2% from the January 15th total of 3,230,946 shares. Based on an average daily trading volume, of 2,272,511 shares, the days-to-cover ratio is currently 2.3 days. Approximately 8.6% of the company’s stock are sold short. Approximately 8.6% of the company’s stock are sold short. Based on an average daily trading volume, of 2,272,511 shares, the days-to-cover ratio is currently 2.3 days.

Hedge Funds Weigh In On iShares U.S. Medical Devices ETF

A number of large investors have recently modified their holdings of IHI. Smartleaf Asset Management LLC increased its position in shares of iShares U.S. Medical Devices ETF by 740.0% in the third quarter. Smartleaf Asset Management LLC now owns 420 shares of the company’s stock valued at $25,000 after buying an additional 370 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in iShares U.S. Medical Devices ETF by 107.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 386 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. FWL Investment Management LLC acquired a new stake in iShares U.S. Medical Devices ETF during the 3rd quarter worth approximately $27,000. Country Trust Bank purchased a new position in iShares U.S. Medical Devices ETF in the second quarter valued at about $28,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in iShares U.S. Medical Devices ETF during the 4th quarter worth $29,000.

iShares U.S. Medical Devices ETF Price Performance

Shares of NYSEARCA IHI traded up $0.63 during midday trading on Friday, hitting $57.99. 1,581,324 shares of the company’s stock were exchanged, compared to its average volume of 2,220,085. The firm’s fifty day simple moving average is $61.41 and its 200-day simple moving average is $61.38. iShares U.S. Medical Devices ETF has a twelve month low of $52.90 and a twelve month high of $64.99. The company has a market cap of $3.59 billion, a PE ratio of 30.76 and a beta of 0.89.

iShares U.S. Medical Devices ETF Company Profile

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.