iShares Global Financials ETF (NYSEARCA:IXG – Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 22,927 shares, a drop of 41.4% from the August 15th total of 39,132 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 43,874 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its position in shares of iShares Global Financials ETF by 1,074.0% in the 4th quarter. HighTower Advisors LLC now owns 106,705 shares of the company’s stock worth $12,889,000 after buying an additional 97,616 shares during the last quarter. Kestra Advisory Services LLC lifted its position in iShares Global Financials ETF by 3.6% during the first quarter. Kestra Advisory Services LLC now owns 8,502 shares of the company’s stock valued at $969,000 after acquiring an additional 293 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in iShares Global Financials ETF by 10.7% in the first quarter. KCM Investment Advisors LLC now owns 6,510 shares of the company’s stock valued at $742,000 after acquiring an additional 628 shares in the last quarter. Waterloo Capital L.P. boosted its stake in iShares Global Financials ETF by 25.7% in the fourth quarter. Waterloo Capital L.P. now owns 4,383 shares of the company’s stock valued at $529,000 after acquiring an additional 897 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in iShares Global Financials ETF by 27.0% in the first quarter. Fifth Third Bancorp now owns 3,669 shares of the company’s stock worth $418,000 after purchasing an additional 781 shares during the last quarter.
iShares Global Financials ETF Trading Down 1.2%
Shares of IXG stock traded down $1.62 during trading hours on Wednesday, reaching $131.57. 44,420 shares of the stock were exchanged, compared to its average volume of 45,801. The firm has a market capitalization of $659.17 million, a price-to-earnings ratio of 14.77 and a beta of 0.80. iShares Global Financials ETF has a 12-month low of $109.99 and a 12-month high of $137.00. The company’s 50-day moving average price is $133.06 and its 200-day moving average price is $124.65.
About iShares Global Financials ETF
Ishares S&P Global Financials Sector Index Fund, formerly iShares Global Financials ETF (the Fund), is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of companies that Standard & Poor’s deems part of the financial sector of the economy and important to global markets, as represented by the S&P Global 1200 Financials Sector Index (the Index). The Index is a subset of the Standard & Poor’s Global 1200 Index. The Index includes major banks, diversified financial companies, insurance companies, real estate companies, savings and loan associations, and securities brokers.
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