iShares New York Muni Bond ETF (NYSEARCA:NYF) Sees Significant Growth in Short Interest

iShares New York Muni Bond ETF (NYSEARCA:NYF) saw a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 141,696 shares, a growth of 157.4% from the July 30th total of 55,051 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 225,334 shares, the days-to-cover ratio is presently 0.6 days.

iShares New York Muni Bond ETF Trading Down 0.2%

Shares of NYSEARCA:NYF opened at $52.62 on Friday. iShares New York Muni Bond ETF has a fifty-two week low of $51.93 and a fifty-two week high of $54.52. The company’s 50-day moving average price is $53.25 and its 200 day moving average price is $53.48.

Institutional Investors Weigh In On iShares New York Muni Bond ETF

Hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC increased its stake in iShares New York Muni Bond ETF by 45.1% in the 1st quarter. Root Financial Partners LLC now owns 1,110 shares of the company’s stock valued at $59,000 after buying an additional 345 shares during the period. WealthShield Partners LLC bought a new stake in shares of iShares New York Muni Bond ETF in the fourth quarter valued at about $90,000. CIBC Private Wealth Group LLC bought a new position in shares of iShares New York Muni Bond ETF during the 4th quarter worth about $188,000. Coldstream Capital Management Inc. bought a new position in shares of iShares New York Muni Bond ETF during the third quarter valued at $202,000. Finally, North Star Investment Management Corp. raised its stake in shares of iShares New York Muni Bond ETF by 92.7% in the first quarter. North Star Investment Management Corp. now owns 3,950 shares of the company’s stock valued at $210,000 after acquiring an additional 1,900 shares during the last quarter.

About iShares New York Muni Bond ETF

iShares New York AMT-Free Muni Bond ETF, formerly iShares S&P New York AMT-Free Municipal Bond Fund (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 S&P AMT-Free Municipal Series 2016 IndexTM (the Index). The Underlying Index measures the performance of investment-grade, noncallable United States municipal bonds maturing in 2016. The Index includes municipal bonds primarily from issuers that are state or local governments or agencies such that the interest on the bonds is exempt from United States federal income taxes and the federal alternative minimum tax (AMT).