iShares U.S. Financial Services ETF (NYSEARCA:IYG) Short Interest Up 246.6% in May

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 83,747 shares, an increase of 246.6% from the May 14th total of 24,160 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 216,232 shares, the days-to-cover ratio is currently 0.4 days.

iShares U.S. Financial Services ETF Stock Performance

IYG traded up $1.36 on Friday, reaching $90.27. 87,603 shares of the company’s stock were exchanged, compared to its average volume of 124,346. The company’s 50 day moving average is $87.04 and its 200-day moving average is $88.21. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 18.95 and a beta of 0.97. iShares U.S. Financial Services ETF has a twelve month low of $79.86 and a twelve month high of $95.75.

Institutional Trading of iShares U.S. Financial Services ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC purchased a new stake in shares of iShares U.S. Financial Services ETF in the first quarter worth about $43,000. Ashton Thomas Securities LLC purchased a new stake in shares of iShares U.S. Financial Services ETF in the first quarter worth about $196,000. Quantinno Capital Management LP boosted its position in shares of iShares U.S. Financial Services ETF by 15.3% in the first quarter. Quantinno Capital Management LP now owns 7,155 shares of the company’s stock worth $593,000 after buying an additional 952 shares during the period. Cetera Investment Advisers boosted its position in shares of iShares U.S. Financial Services ETF by 3.8% in the first quarter. Cetera Investment Advisers now owns 51,002 shares of the company’s stock worth $4,225,000 after buying an additional 1,889 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of iShares U.S. Financial Services ETF by 4.1% in the first quarter. D.A. Davidson & CO. now owns 4,786 shares of the company’s stock worth $396,000 after buying an additional 188 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.