Short Interest in iShares U.S. Financial Services ETF (NYSEARCA:IYG) Rises By 104.2%

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 60,629 shares, a growth of 104.2% from the June 30th total of 29,696 shares. Based on an average trading volume of 167,064 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

Several large investors have recently made changes to their positions in the stock. RiverFront Investment Group LLC lifted its stake in iShares U.S. Financial Services ETF by 0.7% in the 4th quarter. RiverFront Investment Group LLC now owns 1,449,021 shares of the company’s stock valued at $133,672,000 after acquiring an additional 10,089 shares in the last quarter. Morgan Stanley lifted its stake in iShares U.S. Financial Services ETF by 0.4% in the fourth quarter. Morgan Stanley now owns 1,079,849 shares of the company’s stock valued at $99,616,000 after acquiring an additional 4,054 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in iShares U.S. Financial Services ETF by 234.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock worth $95,176,000 after purchasing an additional 723,555 shares during the period. OpenArc Corporate Advisory LLC bought a new position in shares of iShares U.S. Financial Services ETF during the 4th quarter worth approximately $55,635,000. Finally, Dynasty Wealth Management LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the fourth quarter valued at $49,084,000.

iShares U.S. Financial Services ETF Price Performance

Shares of NYSEARCA IYG traded up $1.02 during mid-day trading on Thursday, hitting $95.46. The company’s stock had a trading volume of 39,293 shares, compared to its average volume of 119,186. The company’s fifty day simple moving average is $91.36 and its 200-day simple moving average is $88.49. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 18.95 and a beta of 0.96. iShares U.S. Financial Services ETF has a one year low of $79.86 and a one year high of $96.29.

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.