iShares Global Utilities ETF (NYSEARCA:JXI) Shares Shorted: Short Interest Down 51.4% in October

iShares Global Utilities ETF (NYSEARCA:JXI) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 23,981 shares, a drop of 51.4% from the September 30th total of 49,372 shares. Based on an average daily volume of 31,392 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.5% of the company’s stock are short sold.

iShares Global Utilities ETF Stock Up 0.3%

JXI stock traded up $0.28 during midday trading on Friday, reaching $82.92. 53,646 shares of the company’s stock traded hands, compared to its average volume of 45,516. The firm’s fifty day moving average price is $80.17 and its 200-day moving average price is $83.70. iShares Global Utilities ETF has a 52 week low of $76.18 and a 52 week high of $90.09. The company has a market cap of $348.26 million, a price-to-earnings ratio of 16.92 and a beta of 0.57.

Institutional Trading of iShares Global Utilities ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. NTV Asset Management LLC bought a new position in shares of iShares Global Utilities ETF in the third quarter valued at approximately $2,842,000. Kestra Advisory Services LLC grew its holdings in iShares Global Utilities ETF by 191.2% during the 1st quarter. Kestra Advisory Services LLC now owns 51,605 shares of the exchange traded fund’s stock valued at $4,456,000 after buying an additional 33,882 shares in the last quarter. Solstein Capital LLC grew its position in shares of iShares Global Utilities ETF by 4,539.3% during the 2nd quarter. Solstein Capital LLC now owns 21,341 shares of the exchange traded fund’s stock valued at $1,813,000 after purchasing an additional 20,881 shares in the last quarter. Cumberland Partners Ltd purchased a new position in iShares Global Utilities ETF during the first quarter worth about $1,262,000. Finally, Miller Howard Investments Inc. NY purchased a new stake in iShares Global Utilities ETF in the third quarter valued at approximately $329,000.

About iShares Global Utilities ETF

iShares Global Utilities ETF, formerly iShares S&P Global Utilities Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Utilities Sector Index (the Index). The Index is a subset of the S&P Global 1200 Index and measures the performance of companies that the Index provider deems to be part of the utilities sector of the economy. The Fund invests in sectors, such as retailing, media, automobile and components, consumer services, consumer durable and apparel, S-T securities and other.