iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Large Decrease in Short Interest

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 105,600 shares, a decline of 32.6% from the May 15th total of 156,700 shares. Based on an average daily volume of 105,400 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Atria Wealth Solutions Inc. raised its position in shares of iShares U.S. Financial Services ETF by 12.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,183 shares of the company’s stock worth $248,000 after buying an additional 342 shares in the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of iShares U.S. Financial Services ETF by 17.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,759 shares of the company’s stock worth $295,000 after purchasing an additional 550 shares in the last quarter. NBC Securities Inc. bought a new position in shares of iShares U.S. Financial Services ETF in the first quarter worth approximately $65,000. US Bancorp DE raised its stake in iShares U.S. Financial Services ETF by 4.6% in the fourth quarter. US Bancorp DE now owns 11,449 shares of the company’s stock valued at $891,000 after purchasing an additional 502 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in iShares U.S. Financial Services ETF by 60.8% in the fourth quarter. Focus Partners Wealth now owns 6,141 shares of the company’s stock valued at $478,000 after purchasing an additional 2,323 shares in the last quarter.

iShares U.S. Financial Services ETF Trading Down 0.9%

Shares of NYSEARCA:IYG traded down $0.72 during mid-day trading on Tuesday, reaching $80.97. The company had a trading volume of 20,594 shares, compared to its average volume of 73,222. The company’s 50-day moving average price is $79.16 and its 200-day moving average price is $79.48. iShares U.S. Financial Services ETF has a one year low of $63.60 and a one year high of $84.91. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 16.84 and a beta of 1.11.

iShares U.S. Financial Services ETF Company Profile

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market.