Short Interest in iShares Global Financials ETF (NYSEARCA:IXG) Declines By 89.4%

iShares Global Financials ETF (NYSEARCA:IXG) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 18,223 shares, a drop of 89.4% from the July 15th total of 172,336 shares. Based on an average trading volume of 63,702 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. purchased a new stake in shares of iShares Global Financials ETF in the first quarter worth $27,000. KCM Investment Advisors LLC grew its position in iShares Global Financials ETF by 10.7% during the first quarter. KCM Investment Advisors LLC now owns 6,510 shares of the company’s stock worth $742,000 after buying an additional 628 shares in the last quarter. Sanctuary Advisors LLC increased its stake in iShares Global Financials ETF by 45.1% in the 1st quarter. Sanctuary Advisors LLC now owns 2,437 shares of the company’s stock worth $278,000 after acquiring an additional 757 shares during the last quarter. Fifth Third Bancorp increased its stake in iShares Global Financials ETF by 27.0% in the 1st quarter. Fifth Third Bancorp now owns 3,669 shares of the company’s stock worth $418,000 after acquiring an additional 781 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in shares of iShares Global Financials ETF by 3.6% in the 1st quarter. Kestra Advisory Services LLC now owns 8,502 shares of the company’s stock valued at $969,000 after acquiring an additional 293 shares in the last quarter.

iShares Global Financials ETF Stock Up 0.3%

NYSEARCA:IXG traded up $0.40 during mid-day trading on Wednesday, hitting $134.18. 116,349 shares of the stock traded hands, compared to its average volume of 43,210. The business’s 50-day moving average price is $128.19 and its 200 day moving average price is $122.33. The company has a market cap of $684.32 million, a PE ratio of 14.77 and a beta of 0.80. iShares Global Financials ETF has a 12-month low of $109.99 and a 12-month high of $135.65.

About iShares Global Financials ETF

Ishares S&P Global Financials Sector Index Fund, formerly iShares Global Financials ETF (the Fund), is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of companies that Standard & Poor’s deems part of the financial sector of the economy and important to global markets, as represented by the S&P Global 1200 Financials Sector Index (the Index). The Index is a subset of the Standard & Poor’s Global 1200 Index. The Index includes major banks, diversified financial companies, insurance companies, real estate companies, savings and loan associations, and securities brokers.