iShares Energy Storage & Materials ETF (NASDAQ:IBAT) Sees Large Drop in Short Interest

iShares Energy Storage & Materials ETF (NASDAQ:IBAT) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 2,134 shares, a drop of 60.5% from the September 15th total of 5,409 shares. Based on an average trading volume of 14,313 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

iShares Energy Storage & Materials ETF Trading Down 0.4%

NASDAQ:IBAT traded down $0.15 during midday trading on Tuesday, hitting $40.47. 2,793 shares of the stock were exchanged, compared to its average volume of 33,084. iShares Energy Storage & Materials ETF has a one year low of $27.85 and a one year high of $48.15. The company has a market capitalization of $63.13 million, a price-to-earnings ratio of 18.48 and a beta of 1.57. The business has a 50-day moving average price of $40.77 and a two-hundred day moving average price of $41.23.

Hedge Funds Weigh In On iShares Energy Storage & Materials ETF

Several hedge funds have recently modified their holdings of IBAT. TD Waterhouse Canada Inc. bought a new position in iShares Energy Storage & Materials ETF during the second quarter valued at about $4,221,000. Midwest Financial Partners Investments Inc. grew its holdings in iShares Energy Storage & Materials ETF by 3.9% during the first quarter. Midwest Financial Partners Investments Inc. now owns 55,025 shares of the company’s stock worth $1,877,000 after acquiring an additional 2,048 shares during the period. Citadel Advisors LLC grew its holdings in iShares Energy Storage & Materials ETF by 5.9% during the second quarter. Citadel Advisors LLC now owns 18,112 shares of the company’s stock worth $816,000 after acquiring an additional 1,005 shares during the period. Sax Wealth Advisors LLC bought a new stake in iShares Energy Storage & Materials ETF in the third quarter worth about $375,000. Finally, Sanctuary Advisors LLC bought a new stake in iShares Energy Storage & Materials ETF in the first quarter worth about $230,000.

iShares Energy Storage & Materials ETF Company Profile

The iShares Energy Storage & Materials ETF (IBAT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a price-weighted index of companies involved in energy storage solutions around the globe. The fund seeks to provide long-term growth opportunities from companies involved in the transition to a low-carbon economy. IBAT was launched on Mar 19, 2024 and is issued by BlackRock.