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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 73,947 shares, a growth of 139.5% from the December 31st total of 30,870 shares. Based on an average daily volume of 105,831 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 105,831 shares, the short-interest ratio is presently 0.7 days.

iShares U.S. Financial Services ETF Price Performance

NYSEARCA IYG traded down $0.37 during midday trading on Friday, hitting $90.28. 87,875 shares of the company traded hands, compared to its average volume of 122,759. 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 simple moving average is $91.58 and its 200-day simple moving average is $89.32. The company has a market cap of $2.02 billion, a PE ratio of 18.95 and a beta of 1.11.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

A number of large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in iShares U.S. Financial Services ETF by 62.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,923 shares of the company’s stock worth $955,000 after acquiring an additional 4,203 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of iShares U.S. Financial Services ETF by 186.6% in the second quarter. Bessemer Group Inc. now owns 1,006 shares of the company’s stock worth $86,000 after purchasing an additional 655 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of iShares U.S. Financial Services ETF by 4.2% during the second quarter. Foundations Investment Advisors LLC now owns 505,496 shares of the company’s stock worth $43,270,000 after purchasing an additional 20,565 shares during the period. JPMorgan Chase & Co. boosted its position in iShares U.S. Financial Services ETF by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 298,829 shares of the company’s stock valued at $25,580,000 after buying an additional 14,061 shares during the last quarter. Finally, Bernard Wealth Management Corp. increased its holdings in iShares U.S. Financial Services ETF by 26.3% in the 2nd quarter. Bernard Wealth Management Corp. now owns 44,626 shares of the company’s stock worth $3,820,000 after buying an additional 9,302 shares during the period.

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.