Short Interest in iShares S&P 500 3% Capped ETF (NYSEARCA:TOPC) Expands By 62.8%

iShares S&P 500 3% Capped ETF (NYSEARCA:TOPC) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 40,465 shares, a growth of 62.8% from the July 30th total of 24,851 shares. Based on an average daily volume of 8,576 shares, the days-to-cover ratio is currently 4.7 days. Currently, 4.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its position in iShares S&P 500 3% Capped ETF stock. Royal Bank of Canada raised its position in shares of iShares S&P 500 3% Capped ETF (NYSEARCA:TOPC) by 729.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,295 shares of the company’s stock after purchasing an additional 7,295 shares during the quarter. Royal Bank of Canada owned 1.28% of iShares S&P 500 3% Capped ETF worth $257,000 as of its most recent SEC filing.

iShares S&P 500 3% Capped ETF Trading Down 0.7%

Shares of TOPC opened at $34.72 on Wednesday. The firm has a fifty day simple moving average of $34.60 and a two-hundred day simple moving average of $33.09. The firm has a market cap of $31.25 million, a PE ratio of 25.86 and a beta of 0.88. iShares S&P 500 3% Capped ETF has a 1-year low of $29.14 and a 1-year high of $35.63.

About iShares S&P 500 3% Capped ETF

The iShares S&P 500 3% Capped ETF (TOPC) is an exchange-traded fund that is based on the S&P 500 3% Capped index, a capped, market-cap-weighted index of 500 large-cap US stocks selected by the S&P Index Committee.