Amplify BlueStar Israel Technology ETF (NYSEARCA:ITEQ) Sees Significant Drop in Short Interest

Amplify BlueStar Israel Technology ETF (NYSEARCA:ITEQ) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,464 shares, a drop of 56.2% from the July 15th total of 3,345 shares. Based on an average trading volume of 3,249 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the company are short sold.

Amplify BlueStar Israel Technology ETF Price Performance

Shares of ITEQ stock traded down $0.47 during midday trading on Friday, hitting $66.20. The company had a trading volume of 2,946 shares, compared to its average volume of 10,831. The stock has a market cap of $119.16 million, a price-to-earnings ratio of 29.66 and a beta of 1.01. The company’s 50 day simple moving average is $65.11 and its 200 day simple moving average is $62.43. Amplify BlueStar Israel Technology ETF has a 52-week low of $52.16 and a 52-week high of $71.00.

Hedge Funds Weigh In On Amplify BlueStar Israel Technology ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in Amplify BlueStar Israel Technology ETF in the 4th quarter valued at $33,000. Royal Bank of Canada lifted its stake in shares of Amplify BlueStar Israel Technology ETF by 94.0% in the 1st quarter. Royal Bank of Canada now owns 1,193 shares of the company’s stock worth $69,000 after acquiring an additional 578 shares during the period. IFP Advisors Inc boosted its holdings in shares of Amplify BlueStar Israel Technology ETF by 35.0% in the fourth quarter. IFP Advisors Inc now owns 1,773 shares of the company’s stock valued at $103,000 after acquiring an additional 460 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Amplify BlueStar Israel Technology ETF in the second quarter valued at about $133,000. Finally, Family Management Corp acquired a new position in shares of Amplify BlueStar Israel Technology ETF during the third quarter worth about $205,000.

About Amplify BlueStar Israel Technology ETF

The BlueStar Israel Technology ETF (ITEQ) is an exchange-traded fund that is based on the BlueStar Israel Global Technology index. The fund tracks an index composed of Israeli technology companies listed globally. ITEQ was launched on Nov 2, 2015 and is managed by BlueStar.