Short Interest in iShares U.S. Utilities ETF (NYSEARCA:IDU) Declines By 72.6%

iShares U.S. Utilities ETF (NYSEARCA:IDU) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 32,744 shares, a decline of 72.6% from the June 30th total of 119,388 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 65,390 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On iShares U.S. Utilities ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. increased its position in shares of iShares U.S. Utilities ETF by 3.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,283 shares of the company’s stock worth $356,000 after acquiring an additional 100 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of iShares U.S. Utilities ETF by 5.8% in the fourth quarter. IHT Wealth Management LLC now owns 1,966 shares of the company’s stock valued at $213,000 after purchasing an additional 108 shares during the period. Money Concepts Capital Corp boosted its holdings in shares of iShares U.S. Utilities ETF by 3.3% in the fourth quarter. Money Concepts Capital Corp now owns 4,055 shares of the company’s stock valued at $439,000 after purchasing an additional 131 shares during the period. Wealth Management Associates Inc. grew its stake in iShares U.S. Utilities ETF by 2.2% in the fourth quarter. Wealth Management Associates Inc. now owns 7,914 shares of the company’s stock worth $858,000 after purchasing an additional 167 shares in the last quarter. Finally, Sei Investments Co. grew its stake in iShares U.S. Utilities ETF by 2.7% in the first quarter. Sei Investments Co. now owns 6,355 shares of the company’s stock worth $738,000 after purchasing an additional 167 shares in the last quarter.

iShares U.S. Utilities ETF Trading Up 0.1%

Shares of NYSEARCA IDU traded up $0.13 during mid-day trading on Friday, reaching $117.16. The company had a trading volume of 559,787 shares, compared to its average volume of 179,763. The business’s 50-day moving average is $113.76 and its 200-day moving average is $114.23. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 21.72 and a beta of 0.58. iShares U.S. Utilities ETF has a 52 week low of $105.06 and a 52 week high of $120.82.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.