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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 59,163 shares, a drop of 20.0% from the January 15th total of 73,947 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 139,788 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 139,788 shares, the short-interest ratio is currently 0.4 days. Currently, 0.3% of the shares of the company are sold short.

iShares U.S. Financial Services ETF Trading Up 0.0%

Shares of NYSEARCA IYG traded up $0.02 during midday trading on Monday, reaching $87.35. The company had a trading volume of 135,218 shares, compared to its average volume of 109,754. iShares U.S. Financial Services ETF has a 1 year low of $65.98 and a 1 year high of $95.75. The business’s 50-day simple moving average is $91.76 and its 200 day simple moving average is $89.53. The stock has a market cap of $2.00 billion, a P/E ratio of 18.95 and a beta of 1.11.

Institutional Trading of iShares U.S. Financial Services ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of iShares U.S. Financial Services ETF by 234.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock valued at $95,176,000 after purchasing an additional 723,555 shares during the period. OpenArc Corporate Advisory LLC acquired a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth about $55,635,000. Sagespring Wealth Partners LLC purchased a new stake in iShares U.S. Financial Services ETF in the fourth quarter valued at approximately $53,175,000. Dynasty Wealth Management LLC acquired a new position in iShares U.S. Financial Services ETF in the 4th quarter worth approximately $49,084,000. Finally, Kozak & Associates Inc. increased its holdings in iShares U.S. Financial Services ETF by 30.8% in the 3rd quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock worth $35,875,000 after buying an additional 98,267 shares during the period.

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.