Short Interest in iShares U.S. Insurance ETF (NYSEARCA:IAK) Expands By 176.3%

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 20,214 shares, a growth of 176.3% from the December 31st total of 7,315 shares. Based on an average trading volume of 64,474 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.6% of the shares of the stock are short sold. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 64,474 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On iShares U.S. Insurance ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC grew its stake in iShares U.S. Insurance ETF by 47.4% in the 1st quarter. Jane Street Group LLC now owns 23,906 shares of the company’s stock worth $3,294,000 after acquiring an additional 7,689 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of iShares U.S. Insurance ETF by 84.3% during the second quarter. Farther Finance Advisors LLC now owns 553 shares of the company’s stock worth $74,000 after purchasing an additional 253 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of iShares U.S. Insurance ETF by 60.1% during the second quarter. Janney Montgomery Scott LLC now owns 22,049 shares of the company’s stock worth $2,965,000 after purchasing an additional 8,274 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of iShares U.S. Insurance ETF in the second quarter valued at $260,000. Finally, Jmac Enterprises LLC acquired a new position in iShares U.S. Insurance ETF in the second quarter valued at $4,242,000.

iShares U.S. Insurance ETF Stock Up 0.7%

IAK opened at $131.62 on Thursday. The firm has a market cap of $440.93 million, a P/E ratio of 14.11 and a beta of 0.65. The business’s fifty day simple moving average is $134.14 and its 200 day simple moving average is $131.92. iShares U.S. Insurance ETF has a 52 week low of $119.23 and a 52 week high of $138.99.

About iShares U.S. Insurance ETF

The iShares U.S. Insurance ETF (IAK) is an exchange-traded fund that is based on the DJ US Select \u002F Insurance index. The fund tracks a market-cap index of US insurance companies. IAK was launched on May 1, 2006 and is managed by BlackRock.