iShares U.S. Utilities ETF (NYSEARCA:IDU – Get Free Report) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 177,730 shares, a growth of 216.3% from the May 14th total of 56,191 shares. Based on an average trading volume of 227,902 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.3% of the shares of the stock are short sold.
Hedge Funds Weigh In On iShares U.S. Utilities ETF
Several large investors have recently added to or reduced their stakes in IDU. Hsbc Holdings PLC lifted its position in iShares U.S. Utilities ETF by 24,187.0% during the fourth quarter. Hsbc Holdings PLC now owns 728,611 shares of the company’s stock worth $78,952,000 after buying an additional 725,611 shares during the period. Bank of America Corp DE lifted its position in iShares U.S. Utilities ETF by 88.0% during the second quarter. Bank of America Corp DE now owns 938,296 shares of the company’s stock worth $98,118,000 after buying an additional 439,316 shares during the period. Pinkerton Wealth LLC purchased a new position in iShares U.S. Utilities ETF during the third quarter worth about $37,467,000. Sherman Porfolios LLC purchased a new position in iShares U.S. Utilities ETF during the third quarter worth about $25,699,000. Finally, Cresset Asset Management LLC purchased a new position in iShares U.S. Utilities ETF during the third quarter worth about $18,800,000.
iShares U.S. Utilities ETF Trading Up 1.1%
NYSEARCA IDU opened at $112.58 on Friday. The business’s 50-day moving average price is $114.41 and its 200 day moving average price is $113.15. iShares U.S. Utilities ETF has a twelve month low of $102.22 and a twelve month high of $120.82. The company has a market capitalization of $1.54 billion, a PE ratio of 21.72 and a beta of 0.58.
About iShares U.S. Utilities ETF
iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.
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