iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Large Decline in Short Interest

iShares U.S. Insurance ETF (NYSEARCA:IAK) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 45,200 shares, a drop of 28.4% from the September 15th total of 63,100 shares. Based on an average daily volume of 53,500 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 53,500 shares, the days-to-cover ratio is presently 0.8 days.

iShares U.S. Insurance ETF Stock Performance

Shares of NYSEARCA:IAK opened at $128.19 on Friday. The company has a market cap of $634.54 million, a P/E ratio of 14.11 and a beta of 0.83. The stock’s 50-day moving average is $132.00 and its 200-day moving average is $131.70. iShares U.S. Insurance ETF has a 52-week low of $119.23 and a 52-week high of $139.08.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont bought a new stake in shares of iShares U.S. Insurance ETF in the third quarter valued at about $34,000. Financial Consulate Inc. bought a new stake in shares of iShares U.S. Insurance ETF in the third quarter valued at about $35,000. Realta Investment Advisors bought a new stake in shares of iShares U.S. Insurance ETF in the second quarter valued at about $38,000. Farther Finance Advisors LLC bought a new stake in shares of iShares U.S. Insurance ETF in the first quarter valued at about $41,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of iShares U.S. Insurance ETF in the second quarter valued at about $41,000.

iShares U.S. Insurance ETF Company Profile

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.