iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Significant Drop in Short Interest

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 48,940 shares, a drop of 42.9% from the August 15th total of 85,731 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 78,355 shares, the days-to-cover ratio is presently 0.6 days.

iShares U.S. Financial Services ETF Trading Down 0.7%

IYG stock opened at $95.98 on Tuesday. iShares U.S. Financial Services ETF has a 12-month low of $79.86 and a 12-month high of $98.66. The business’s 50-day moving average is $96.20 and its 200 day moving average is $90.10. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 18.95 and a beta of 0.96.

Institutional Trading of iShares U.S. Financial Services ETF

A number of institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of iShares U.S. Financial Services ETF by 11.7% during the second quarter. NewEdge Advisors LLC now owns 12,062 shares of the company’s stock worth $1,091,000 after purchasing an additional 1,268 shares in the last quarter. Corient Private Wealth LP acquired a new position in iShares U.S. Financial Services ETF in the 2nd quarter valued at $215,000. XP Advisory US Inc. purchased a new position in iShares U.S. Financial Services ETF in the 2nd quarter valued at $402,000. Highland Investment Advisors LLC purchased a new position in iShares U.S. Financial Services ETF in the 2nd quarter valued at $34,000. Finally, Focus Financial Network Inc. boosted its stake in iShares U.S. Financial Services ETF by 4.8% during the 2nd quarter. Focus Financial Network Inc. now owns 23,235 shares of the company’s stock worth $2,102,000 after purchasing an additional 1,061 shares during the last quarter.

iShares U.S. Financial Services ETF Company Profile

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.