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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 46,523 shares, a drop of 52.8% from the September 30th total of 98,569 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 216,468 shares, the short-interest ratio is currently 0.2 days.

iShares U.S. Financial Services ETF Trading Down 1.0%

Shares of iShares U.S. Financial Services ETF stock traded down $0.94 during trading on Friday, reaching $94.26. The company’s stock had a trading volume of 100,588 shares, compared to its average volume of 119,132. The stock has a market capitalization of $2.23 billion, a P/E ratio of 18.95 and a beta of 0.98. The stock has a 50-day moving average price of $94.04 and a two-hundred day moving average price of $90.47. iShares U.S. Financial Services ETF has a one year low of $79.86 and a one year high of $98.66.

Institutional Trading of iShares U.S. Financial Services ETF

Several hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. raised its position in shares of iShares U.S. Financial Services ETF by 4.1% during the first quarter. D.A. Davidson & CO. now owns 4,786 shares of the company’s stock valued at $396,000 after buying an additional 188 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in iShares U.S. Financial Services ETF by 7.2% during the first quarter. Chicago Partners Investment Group LLC now owns 3,786 shares of the company’s stock worth $333,000 after buying an additional 255 shares in the last quarter. CX Institutional acquired a new stake in shares of iShares U.S. Financial Services ETF in the third quarter valued at $27,000. Roxbury Financial LLC acquired a new position in iShares U.S. Financial Services ETF in the third quarter valued at $27,000. Finally, Y.D. More Investments Ltd raised its stake in shares of iShares U.S. Financial Services ETF by 53.8% during the first quarter. Y.D. More Investments Ltd now owns 1,000 shares of the company’s stock worth $80,000 after purchasing an additional 350 shares during the last quarter.

About iShares U.S. Financial Services ETF

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.