iShares U.S. Energy ETF (NYSEARCA:IYE) Sees Large Drop in Short Interest

iShares U.S. Energy ETF (NYSEARCA:IYE) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 625,881 shares, a drop of 21.7% from the January 15th total of 798,988 shares. Based on an average daily volume of 1,458,068 shares, the days-to-cover ratio is presently 0.4 days. Approximately 2.6% of the shares of the stock are short sold. Approximately 2.6% of the shares of the stock are short sold. Based on an average daily volume of 1,458,068 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of iShares U.S. Energy ETF

Several large investors have recently made changes to their positions in IYE. BNP Paribas Financial Markets raised its stake in iShares U.S. Energy ETF by 936.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 217,548 shares of the company’s stock valued at $9,838,000 after purchasing an additional 196,559 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of iShares U.S. Energy ETF during the second quarter worth $8,796,000. Goldman Sachs Group Inc. raised its position in shares of iShares U.S. Energy ETF by 14.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 722,662 shares of the company’s stock valued at $34,348,000 after buying an additional 90,366 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of iShares U.S. Energy ETF by 126.1% in the second quarter. Thrivent Financial for Lutherans now owns 123,388 shares of the company’s stock valued at $5,580,000 after buying an additional 68,819 shares during the last quarter. Finally, Forte Asset Management LLC purchased a new position in shares of iShares U.S. Energy ETF in the second quarter worth about $2,826,000. 52.46% of the stock is currently owned by hedge funds and other institutional investors.

iShares U.S. Energy ETF Price Performance

iShares U.S. Energy ETF stock traded up $0.43 during midday trading on Friday, reaching $57.41. The company had a trading volume of 1,367,361 shares, compared to its average volume of 1,723,627. iShares U.S. Energy ETF has a 12-month low of $39.35 and a 12-month high of $58.30. The company has a market capitalization of $1.40 billion, a P/E ratio of 15.53 and a beta of 0.78. The firm’s fifty day simple moving average is $50.59 and its 200-day simple moving average is $48.24.

About iShares U.S. Energy ETF

iShares U.S. Energy ETF (the Fund), formerly iShares Dow Jones U.S. Energy Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Oil & Gas Index (the Index). The Index measures the performance of the oil and gas sector of the United States equity market, and includes companies in industry groups, such as oil and gas producers, and oil equipment, services and distribution. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.