iShares U.S. Telecommunications ETF (BATS:IYZ) Short Interest Down 43.4% in May

iShares U.S. Telecommunications ETF (BATS:IYZ) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 1,056,550 shares, a drop of 43.4% from the May 14th total of 1,866,539 shares. Based on an average daily volume of 1,117,553 shares, the days-to-cover ratio is currently 0.9 days. Approximately 5.7% of the company’s stock are sold short.

Institutional Investors Weigh In On iShares U.S. Telecommunications ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advanced Asset Management Advisors Inc raised its holdings in shares of iShares U.S. Telecommunications ETF by 4.5% in the 4th quarter. Advanced Asset Management Advisors Inc now owns 6,605 shares of the exchange traded fund’s stock valued at $224,000 after purchasing an additional 285 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of iShares U.S. Telecommunications ETF by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 46,603 shares of the exchange traded fund’s stock valued at $1,580,000 after purchasing an additional 415 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of iShares U.S. Telecommunications ETF by 1.1% in the 4th quarter. HighTower Advisors LLC now owns 39,612 shares of the exchange traded fund’s stock valued at $1,343,000 after purchasing an additional 428 shares in the last quarter. AlphaCore Capital LLC raised its holdings in shares of iShares U.S. Telecommunications ETF by 8.4% in the 4th quarter. AlphaCore Capital LLC now owns 6,457 shares of the exchange traded fund’s stock valued at $219,000 after purchasing an additional 500 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of iShares U.S. Telecommunications ETF by 28.2% in the 4th quarter. CWM LLC now owns 2,658 shares of the exchange traded fund’s stock valued at $90,000 after purchasing an additional 584 shares in the last quarter.

iShares U.S. Telecommunications ETF Trading Up 1.3%

Shares of IYZ opened at $43.76 on Friday. iShares U.S. Telecommunications ETF has a twelve month low of $27.97 and a twelve month high of $46.07. The firm’s fifty day simple moving average is $42.62 and its 200-day simple moving average is $38.39. The firm has a market capitalization of $807.37 million, a price-to-earnings ratio of 14.09 and a beta of 0.90.

About iShares U.S. Telecommunications ETF

iShares U.S. Telecommunications ETF (the Fund), formerly iShares Dow Jones U.S. Telecommunications Sector Index Fund, is a non-diversified 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. Select Telecommunications Index (the Index). The Index measures the performance of the telecommunications sector of the United States equity market, and includes companies in the industry groups, such as fixed-line telecommunications and mobile telecommunications.