iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Large Increase in Short Interest

iShares U.S. Insurance ETF (NYSEARCA:IAK) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 61,579 shares, a growth of 140.9% from the February 26th total of 25,565 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 92,779 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Access Financial Services Inc. acquired a new stake in shares of iShares U.S. Insurance ETF during the 3rd quarter valued at $814,000. Commonwealth Equity Services LLC increased its stake in shares of iShares U.S. Insurance ETF by 910.0% in the third quarter. Commonwealth Equity Services LLC now owns 93,380 shares of the company’s stock worth $12,516,000 after acquiring an additional 84,134 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of iShares U.S. Insurance ETF in the second quarter worth $253,000. Flow Traders U.S. LLC purchased a new stake in shares of iShares U.S. Insurance ETF during the second quarter worth $671,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of iShares U.S. Insurance ETF by 37.4% during the second quarter. Envestnet Asset Management Inc. now owns 3,038 shares of the company’s stock worth $408,000 after acquiring an additional 827 shares in the last quarter.

iShares U.S. Insurance ETF Trading Down 0.4%

Shares of NYSEARCA IAK opened at $127.63 on Thursday. The firm has a market capitalization of $408.42 million, a PE ratio of 14.11 and a beta of 0.65. iShares U.S. Insurance ETF has a one year low of $119.23 and a one year high of $138.99. The business has a 50-day moving average price of $132.80 and a two-hundred day moving average price of $132.76.

iShares U.S. Insurance ETF Company Profile

The iShares U.S. Insurance ETF (IAK) is an exchange-traded fund that is based on the DJ US Select \u002F Insurance index. The fund tracks a market-cap index of US insurance companies. IAK was launched on May 1, 2006 and is managed by BlackRock.