iShares U.S. Insurance ETF (NYSEARCA:IAK) Short Interest Up 140.9% in March

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 61,579 shares, a growth of 140.9% from the February 26th total of 25,565 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 92,779 shares, the days-to-cover ratio is currently 0.7 days.

iShares U.S. Insurance ETF Trading Down 2.0%

Shares of NYSEARCA IAK traded down $2.56 during midday trading on Friday, hitting $125.53. The company’s stock had a trading volume of 30,674 shares, compared to its average volume of 81,305. The stock has a fifty day moving average price of $132.64 and a 200 day moving average price of $132.68. The firm has a market capitalization of $401.70 million, a price-to-earnings ratio of 14.11 and a beta of 0.65. iShares U.S. Insurance ETF has a one year low of $119.23 and a one year high of $138.99.

Hedge Funds Weigh In On iShares U.S. Insurance ETF

A number of large investors have recently made changes to their positions in the stock. Osbon Capital Management LLC purchased a new position in shares of iShares U.S. Insurance ETF in the fourth quarter valued at $61,000. Concentric Capital Strategies LP bought a new stake in iShares U.S. Insurance ETF during the 4th quarter worth approximately $1,828,000. Cetera Investment Advisers lifted its stake in iShares U.S. Insurance ETF by 8.6% in the 4th quarter. Cetera Investment Advisers now owns 10,359 shares of the company’s stock worth $1,410,000 after purchasing an additional 824 shares in the last quarter. Mariner LLC grew its position in shares of iShares U.S. Insurance ETF by 1.3% during the 4th quarter. Mariner LLC now owns 10,271 shares of the company’s stock valued at $1,398,000 after purchasing an additional 132 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its holdings in shares of iShares U.S. Insurance ETF by 496.6% in the fourth quarter. Aptus Capital Advisors LLC now owns 2,613 shares of the company’s stock worth $356,000 after purchasing an additional 2,175 shares during the period.

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.