iShares U.S. Utilities ETF (NYSEARCA:IDU – Get Free Report) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totaling 33,079 shares, a drop of 81.4% from the May 31st total of 177,730 shares. Based on an average daily volume of 127,862 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.
Institutional Investors Weigh In On iShares U.S. Utilities ETF
A number of hedge funds have recently added to or reduced their stakes in IDU. Pinkerton Wealth LLC bought a new position in iShares U.S. Utilities ETF in the 3rd quarter worth approximately $37,467,000. Apollon Wealth Management LLC bought a new position in iShares U.S. Utilities ETF in the fourth quarter valued at about $631,000. Koshinski Asset Management Inc. bought a new position in iShares U.S. Utilities ETF in the fourth quarter valued at about $1,467,000. Buck Wealth Strategies LLC acquired a new stake in iShares U.S. Utilities ETF in the fourth quarter worth about $853,000. Finally, Summit Financial Consulting LLC increased its position in iShares U.S. Utilities ETF by 10.9% in the fourth quarter. Summit Financial Consulting LLC now owns 65,479 shares of the company’s stock worth $7,095,000 after purchasing an additional 6,446 shares during the period.
iShares U.S. Utilities ETF Stock Performance
iShares U.S. Utilities ETF stock traded up $0.88 on Friday, reaching $116.82. The company’s stock had a trading volume of 42,281 shares, compared to its average volume of 194,732. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 21.72 and a beta of 0.58. The business’s fifty day moving average price is $113.64 and its 200 day moving average price is $113.28. iShares U.S. Utilities ETF has a twelve month low of $102.91 and a twelve month high of $120.82.
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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