Short Interest in iShares LifePath Target Date 2040 ETF (NYSEARCA:ITDD) Decreases By 53.3%

iShares LifePath Target Date 2040 ETF (NYSEARCA:ITDD) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 11,657 shares, a drop of 53.3% from the June 15th total of 24,985 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 15,444 shares, the days-to-cover ratio is currently 0.8 days.

iShares LifePath Target Date 2040 ETF Stock Performance

NYSEARCA:ITDD traded down $0.18 on Thursday, hitting $38.36. 4,606 shares of the stock were exchanged, compared to its average volume of 20,999. iShares LifePath Target Date 2040 ETF has a 52 week low of $32.89 and a 52 week high of $38.75. The stock has a market capitalization of $103.57 million, a price-to-earnings ratio of 20.77 and a beta of 0.73. The company’s 50-day moving average price is $38.21 and its 200 day moving average price is $36.81.

Institutional Investors Weigh In On iShares LifePath Target Date 2040 ETF

A number of institutional investors and hedge funds have recently modified their holdings of ITDD. Capital Advisors Ltd. LLC bought a new position in iShares LifePath Target Date 2040 ETF in the fourth quarter valued at approximately $41,000. Sunbelt Securities Inc. bought a new stake in shares of iShares LifePath Target Date 2040 ETF during the 3rd quarter valued at $79,000. McIlrath & Eck LLC raised its position in shares of iShares LifePath Target Date 2040 ETF by 7,953.1% during the 4th quarter. McIlrath & Eck LLC now owns 2,577 shares of the company’s stock valued at $91,000 after acquiring an additional 2,545 shares during the last quarter. Bellwether Advisors LLC acquired a new position in shares of iShares LifePath Target Date 2040 ETF in the 4th quarter valued at $249,000. Finally, Jane Street Group LLC acquired a new position in shares of iShares LifePath Target Date 2040 ETF in the 4th quarter valued at $638,000.

About iShares LifePath Target Date 2040 ETF

The iShares LifePath Target Date 2040 ETF (ITDD) is an exchange-traded fund that mostly invests in target date asset allocation. The fund is an actively managed fund-of-funds that invests in equity, fixed income, and money market ETFs using an asset allocation strategy that shifts exposure as the target retirement date approaches. The fund is intended for investors who anticipate retiring around 2040 ITDD was launched on Oct 17, 2023 and is issued by BlackRock.