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 during the month of June. As of June 30th, there was short interest totaling 29,696 shares, a growth of 131.6% from the June 15th total of 12,820 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 57,373 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of iShares U.S. Financial Services ETF

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in iShares U.S. Financial Services ETF by 234.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock valued at $95,176,000 after buying an additional 723,555 shares during the last quarter. OpenArc Corporate Advisory LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth approximately $55,635,000. Sagespring Wealth Partners LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the fourth quarter worth approximately $53,175,000. Dynasty Wealth Management LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the fourth quarter valued at approximately $49,084,000. Finally, Kozak & Associates Inc. grew its position in shares of iShares U.S. Financial Services ETF by 30.8% in the third quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock valued at $35,875,000 after purchasing an additional 98,267 shares during the last quarter.

iShares U.S. Financial Services ETF Stock Performance

IYG traded up $0.60 during trading hours on Tuesday, reaching $94.60. The company’s stock had a trading volume of 75,791 shares, compared to its average volume of 122,284. The company’s 50-day moving average is $89.42 and its 200-day moving average is $88.40. iShares U.S. Financial Services ETF has a 52 week low of $79.86 and a 52 week high of $95.75. The firm has a market cap of $2.07 billion, a PE ratio of 18.95 and a beta of 0.96.

iShares U.S. Financial Services ETF Company Profile

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.