Short Interest in iShares U.S. Utilities ETF (NYSEARCA:IDU) Drops By 58.4%

iShares U.S. Utilities ETF (NYSEARCA:IDU) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 37,941 shares, a drop of 58.4% from the July 30th total of 91,205 shares. Based on an average trading volume of 210,136 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the shares of the stock are sold short.

iShares U.S. Utilities ETF Stock Performance

Shares of NYSEARCA IDU opened at $109.64 on Friday. The firm has a fifty day moving average of $113.49 and a 200 day moving average of $114.69. The firm has a market cap of $1.38 billion, a PE ratio of 21.72 and a beta of 0.58. iShares U.S. Utilities ETF has a one year low of $105.06 and a one year high of $120.82.

Institutional Trading of iShares U.S. Utilities ETF

Several institutional investors have recently modified their holdings of IDU. Hsbc Holdings PLC increased its stake in shares of iShares U.S. Utilities ETF by 24,187.0% during the fourth quarter. Hsbc Holdings PLC now owns 728,611 shares of the company’s stock worth $78,952,000 after purchasing an additional 725,611 shares in the last quarter. Bank of America Corp DE lifted its stake in iShares U.S. Utilities ETF by 88.0% in the 2nd quarter. Bank of America Corp DE now owns 938,296 shares of the company’s stock valued at $98,118,000 after buying an additional 439,316 shares in the last quarter. Camarda Financial Advisors LLC acquired a new stake in iShares U.S. Utilities ETF in the 2nd quarter worth about $13,327,000. Goldman Sachs Group Inc. boosted its holdings in iShares U.S. Utilities ETF by 629.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 127,535 shares of the company’s stock worth $13,820,000 after buying an additional 110,043 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in iShares U.S. Utilities ETF by 3,828.9% during the 4th quarter. Corient Private Wealth LLC now owns 80,935 shares of the company’s stock worth $8,770,000 after buying an additional 78,875 shares in the last quarter.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.