iShares U.S. Transportation ETF (BATS:IYT) Sees Large Decrease in Short Interest

iShares U.S. Transportation ETF (BATS:IYT) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 746,818 shares, a decline of 54.0% from the April 30th total of 1,624,055 shares. Based on an average daily trading volume, of 706,523 shares, the days-to-cover ratio is presently 1.1 days. Currently, 7.4% of the shares of the stock are sold short.

iShares U.S. Transportation ETF Stock Down 0.2%

iShares U.S. Transportation ETF stock opened at $83.80 on Friday. The stock has a 50-day simple moving average of $78.88 and a 200 day simple moving average of $77.30. iShares U.S. Transportation ETF has a 12-month low of $64.28 and a 12-month high of $84.74. The stock has a market capitalization of $846.38 million, a price-to-earnings ratio of 16.05 and a beta of 1.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IYT. Cornerstone Planning Group LLC bought a new position in shares of iShares U.S. Transportation ETF in the first quarter valued at about $30,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of iShares U.S. Transportation ETF in the first quarter valued at about $30,000. North Star Investment Management Corp. raised its holdings in shares of iShares U.S. Transportation ETF by 165.6% in the fourth quarter. North Star Investment Management Corp. now owns 425 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of iShares U.S. Transportation ETF in the fourth quarter valued at about $33,000. Finally, CWM LLC raised its holdings in shares of iShares U.S. Transportation ETF by 103.4% in the fourth quarter. CWM LLC now owns 480 shares of the exchange traded fund’s stock valued at $36,000 after buying an additional 244 shares during the last quarter.

About iShares U.S. Transportation ETF

iShares Transportation Average ETF (the Fund), formerly iShares Dow Jones Transportation Average Index Fund, is an exchange-traded fund (ETF). The Fund seek investment results that correspond generally to the price and yield performance, before fees and expenses, of Dow Jones Transportation Average Index. The Index measures the performance of the transportation sector of the United States equity market, and includes companies in the primary groups, such as airlines, trucking, railroads, air freight, transportation services and industrial services.