iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Sees Large Growth in Short Interest

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 263,419 shares, a growth of 312.9% from the May 14th total of 63,805 shares. Based on an average daily trading volume, of 121,034 shares, the days-to-cover ratio is currently 2.2 days. Currently, 3.1% of the shares of the stock are short sold.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Stock Up 1.8%

Shares of IAI stock opened at $184.27 on Friday. The stock has a 50-day simple moving average of $177.38 and a 200 day simple moving average of $176.53. iShares U.S. Broker-Dealers & Securities Exchanges ETF has a fifty-two week low of $153.44 and a fifty-two week high of $191.62. The stock has a market capitalization of $1.58 billion, a P/E ratio of 23.81 and a beta of 1.08.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 12,637.6% during the third quarter. IFP Advisors Inc now owns 33,500 shares of the company’s stock valued at $5,925,000 after buying an additional 33,237 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 3.2% during the third quarter. Ameriprise Financial Inc. now owns 122,669 shares of the company’s stock valued at $21,714,000 after buying an additional 3,811 shares in the last quarter. Jump Financial LLC acquired a new position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF in the 4th quarter valued at $8,043,000. Janney Montgomery Scott LLC boosted its position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 10.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 25,175 shares of the company’s stock valued at $4,516,000 after purchasing an additional 2,321 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of iShares U.S. Broker-Dealers & Securities Exchanges ETF by 26.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,234 shares of the company’s stock valued at $572,000 after purchasing an additional 683 shares during the period.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Company Profile

iShares U.S. Broker-Dealers ETF (the Fund), formerly iShares Dow Jones U.S. Broker-Dealers 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 Investment Services Index (the Index). The Index measures the performance of the investment services sector of the United States equity market, and includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges.