iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Large Growth in Short Interest

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 90,182 shares, a growth of 52.4% from the January 29th total of 59,163 shares. Based on an average daily volume of 83,779 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.4% of the company’s stock are sold short. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 83,779 shares, the days-to-cover ratio is presently 1.1 days.

iShares U.S. Financial Services ETF Stock Performance

Shares of IYG stock opened at $85.93 on Friday. iShares U.S. Financial Services ETF has a 52 week low of $65.98 and a 52 week high of $95.75. The company’s 50 day moving average price is $90.96 and its two-hundred day moving average price is $89.59. The company has a market capitalization of $1.96 billion, a P/E ratio of 18.95 and a beta of 1.11.

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

Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its stake in shares of iShares U.S. Financial Services ETF by 17.4% in the 1st quarter. NewEdge Advisors LLC now owns 10,232 shares of the company’s stock valued at $804,000 after purchasing an additional 1,517 shares during the period. Focus Partners Wealth grew its holdings in shares of iShares U.S. Financial Services ETF by 11.2% during the first quarter. Focus Partners Wealth now owns 6,826 shares of the company’s stock worth $536,000 after buying an additional 685 shares in the last quarter. Bessemer Group Inc. raised its position in iShares U.S. Financial Services ETF by 186.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,006 shares of the company’s stock valued at $86,000 after buying an additional 655 shares during the last quarter. AMG National Trust Bank lifted its stake in iShares U.S. Financial Services ETF by 2.7% in the 2nd quarter. AMG National Trust Bank now owns 9,411 shares of the company’s stock valued at $806,000 after acquiring an additional 251 shares in the last quarter. Finally, Benchmark Financial Wealth Advisors LLC bought a new stake in iShares U.S. Financial Services ETF in the 2nd quarter valued at approximately $233,000.

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.