Short Interest in iShares U.S. Insurance ETF (NYSEARCA:IAK) Increases By 176.3%

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 20,214 shares, an increase of 176.3% from the December 31st total of 7,315 shares. Based on an average daily volume of 64,474 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.6% of the company’s stock are sold short. Currently, 0.6% of the company’s stock are sold short. Based on an average daily volume of 64,474 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On iShares U.S. Insurance ETF

Institutional investors have recently made changes to their positions in the stock. Access Financial Services Inc. bought a new stake in iShares U.S. Insurance ETF in the third quarter valued at approximately $814,000. Adapt Wealth Advisors LLC boosted its position in shares of iShares U.S. Insurance ETF by 3.3% during the second quarter. Adapt Wealth Advisors LLC now owns 64,165 shares of the company’s stock worth $8,628,000 after purchasing an additional 2,061 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of iShares U.S. Insurance ETF by 12.8% in the 2nd quarter. DAVENPORT & Co LLC now owns 4,615 shares of the company’s stock valued at $621,000 after buying an additional 525 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of iShares U.S. Insurance ETF by 84.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 553 shares of the company’s stock valued at $74,000 after buying an additional 253 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in shares of iShares U.S. Insurance ETF by 9.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,704 shares of the company’s stock valued at $229,000 after buying an additional 151 shares in the last quarter.

iShares U.S. Insurance ETF Price Performance

Shares of IAK stock opened at $133.00 on Friday. The firm has a market cap of $445.55 million, a P/E ratio of 14.11 and a beta of 0.65. The firm has a fifty day moving average of $134.13 and a two-hundred day moving average of $131.95. iShares U.S. Insurance ETF has a 1-year low of $119.23 and a 1-year high of $138.99.

iShares U.S. Insurance ETF Company Profile

The iShares U.S. Insurance ETF (IAK) is an exchange-traded fund that is based on the DJ US Select \u002F Insurance index. The fund tracks a market-cap index of US insurance companies. IAK was launched on May 1, 2006 and is managed by BlackRock.