iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ – Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 334,225 shares, a growth of 178.3% from the June 30th total of 120,103 shares. Based on an average daily volume of 364,326 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.6% of the shares of the company are sold short.
iShares U.S. Oil Equipment & Services ETF Trading Down 3.6%
NYSEARCA IEZ opened at $26.91 on Wednesday. iShares U.S. Oil Equipment & Services ETF has a 1-year low of $17.24 and a 1-year high of $32.87. The company has a 50 day moving average of $28.60 and a 200-day moving average of $28.28. The company has a market cap of $349.83 million, a price-to-earnings ratio of 11.67 and a beta of 0.89.
Hedge Funds Weigh In On iShares U.S. Oil Equipment & Services ETF
A number of hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its holdings in iShares U.S. Oil Equipment & Services ETF by 198.3% in the 1st quarter. Sunbelt Securities Inc. now owns 6,971 shares of the company’s stock valued at $202,000 after acquiring an additional 4,634 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of iShares U.S. Oil Equipment & Services ETF during the 1st quarter worth $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of iShares U.S. Oil Equipment & Services ETF during the 4th quarter worth $35,000. BNP Paribas Financial Markets increased its position in shares of iShares U.S. Oil Equipment & Services ETF by 34.7% in the fourth quarter. BNP Paribas Financial Markets now owns 199,000 shares of the company’s stock worth $4,153,000 after purchasing an additional 51,300 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of iShares U.S. Oil Equipment & Services ETF by 42.6% in the third quarter. Ameriprise Financial Inc. now owns 76,684 shares of the company’s stock worth $1,479,000 after purchasing an additional 22,922 shares during the period.
About iShares U.S. Oil Equipment & Services ETF
iShares U.S. Oil Equipment & Services ETF (the Fund), formerly iShares Dow Jones U.S. Oil Equipment & Services Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Oil Equipment & Services Index (the Index). The Index measures the performance of the oil equipment and services sector of the United States equity market, and includes companies that are suppliers of equipment or services to oil fields and offshore platforms, such as drilling, exploration, engineering, logistics, seismic information services and platform construction.
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