iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) Shares Shorted: Short Interest Down 71.4% in September

iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 37,291 shares, a decline of 71.4% from the September 15th total of 130,361 shares. Based on an average trading volume of 130,975 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.7% of the company’s shares are sold short.

More iShares U.S. Oil & Gas Exploration & Production ETF News

Here are the key news stories impacting iShares U.S. Oil & Gas Exploration & Production ETF this week:

• Positive Sentiment: Short interest fell 71.4% between September 15 and September 30, leaving only about 0.7% of shares sold short and a short-interest ratio of 0.3 days. The reduction lowers bearish positioning and may indicate short covering or improved sentiment toward IEO.
• Positive Sentiment: Oil prices have been supported by Middle East supply risks, attacks on shipping near the Strait of Hormuz, Gulf production disruptions and hurricane-related U.S. offshore shut-ins. Higher crude prices generally improve revenue and cash-flow expectations for the exploration-and-production companies held by IEO. Oil rises as Middle East supply concerns persist amid shipping attacks
• Positive Sentiment: Technical forecasts remain broadly bullish, with WTI holding key support near $90 and analysts citing falling inventories, strong refinery demand and potential hurricane-related supply losses. A sustained move higher in crude would be a favorable catalyst for IEO. Crude Oil Price Forecast – Oil Continues to See Multiple Pressures

Institutional Trading of iShares U.S. Oil & Gas Exploration & Production ETF

Several hedge funds and other institutional investors have recently modified their holdings of IEO. Risk Paradigm Group LLC purchased a new position in shares of iShares U.S. Oil & Gas Exploration & Production ETF during the second quarter valued at $3,105,000. RPg Family Wealth Advisory LLC acquired a new position in iShares U.S. Oil & Gas Exploration & Production ETF during the second quarter valued at $3,108,000. Compass Financial Management LLC acquired a new position in iShares U.S. Oil & Gas Exploration & Production ETF during the second quarter valued at $75,000. Highland Investment Advisors LLC purchased a new stake in iShares U.S. Oil & Gas Exploration & Production ETF in the 2nd quarter worth about $34,000. Finally, Oarsman Capital Inc. purchased a new stake in iShares U.S. Oil & Gas Exploration & Production ETF in the 2nd quarter worth about $348,000.

iShares U.S. Oil & Gas Exploration & Production ETF Stock Performance

Shares of BATS:IEO opened at $143.71 on Monday. The firm has a 50 day simple moving average of $134.96 and a 200 day simple moving average of $123.49. iShares U.S. Oil & Gas Exploration & Production ETF has a 52 week low of $85.93 and a 52 week high of $146.63. The company has a market cap of $783.22 million, a PE ratio of 14.30 and a beta of 0.85.

About iShares U.S. Oil & Gas Exploration & Production ETF

iShares U.S. Oil & Gas Exploration & Production ETF, formerly iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Oil Exploration & Production Index (the Index). The Index measures the performance of the oil exploration and production sub-sector of the United States equity market, and includes companies that are engaged in the exploration for and extraction, production, refining, and supply of oil and gas products.