iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) Sees Significant Decline in Short Interest

iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 15,489 shares, a decrease of 53.8% from the May 31st total of 33,560 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 89,034 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On iShares U.S. Oil & Gas Exploration & Production ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IEO. RMG Wealth Management LLC bought a new position in shares of iShares U.S. Oil & Gas Exploration & Production ETF in the first quarter worth approximately $35,000. Janney Montgomery Scott LLC raised its position in shares of iShares U.S. Oil & Gas Exploration & Production ETF by 2.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,038 shares of the company’s stock valued at $629,000 after purchasing an additional 144 shares during the period. Sunbelt Securities Inc. raised its position in shares of iShares U.S. Oil & Gas Exploration & Production ETF by 32.3% during the 4th quarter. Sunbelt Securities Inc. now owns 2,451 shares of the company’s stock valued at $219,000 after purchasing an additional 599 shares during the period. Bearing Point Capital LLC purchased a new position in shares of iShares U.S. Oil & Gas Exploration & Production ETF during the 4th quarter valued at $1,329,000. Finally, RiverFront Investment Group LLC lifted its stake in shares of iShares U.S. Oil & Gas Exploration & Production ETF by 42.7% during the 4th quarter. RiverFront Investment Group LLC now owns 7,696 shares of the company’s stock valued at $687,000 after buying an additional 2,304 shares in the last quarter.

iShares U.S. Oil & Gas Exploration & Production ETF Stock Up 0.4%

BATS IEO opened at $110.42 on Tuesday. The stock’s 50-day moving average price is $115.48 and its 200-day moving average price is $108.29. iShares U.S. Oil & Gas Exploration & Production ETF has a 52 week low of $85.93 and a 52 week high of $130.50. The company has a market capitalization of $601.79 million, a P/E ratio of 14.30 and a beta of 0.85.

iShares U.S. Oil & Gas Exploration & Production ETF News Roundup

Here are the key news stories impacting iShares U.S. Oil & Gas Exploration & Production ETF this week:

• Positive Sentiment: Oil rose on renewed supply-disruption concerns after U.S. and Iran strikes, with shipping through the Strait of Hormuz seen as more fragile, which supports upstream energy stocks and the ETF. Oil Rises Amid Renewed Supply-Disruption Concerns
• Positive Sentiment: Middle East producers continued oil and LNG loadings despite attacks, reinforcing supply-risk concerns that can keep crude supported and help exploration-and-production shares. Middle East producers push on with oil, LNG loadings despite ship attacks
• Positive Sentiment: The U.S. Strategic Petroleum Reserve fell by 5.5 million barrels to the lowest level since 1983, a sign of tighter available government crude stockpiles that can be supportive for oil prices. Oil stocks in US Strategic Petroleum Reserve fall by 5.5 million to lowest level since 1983
• Neutral Sentiment: Short interest in IEO fell sharply in June, which may reduce bearish positioning but does not by itself change the ETF’s fundamentals. iShares U.S. Oil & Gas Exploration & Production ETF (BATS:IEO) Short Interest Down 53.8% in June
• Negative Sentiment: Several reports said oil fell as investors focused on possible U.S.-Iran talks in Doha, easing the war premium and pressuring crude-linked ETFs like IEO. Oil falls as investors focus on potential Iran-US talks in Doha
• Negative Sentiment: Analysts from JPMorgan, Citi and others are cutting longer-term oil price forecasts, citing weaker demand, which could weigh on valuation expectations for exploration and production companies. Why Wall Street Thinks Cheap Oil Is Here to Stay
• Negative Sentiment: Additional commentary suggested more oil supply may be coming and that prices could drop, another headwind for upstream energy exposure. White House Economist: ‘More Oil Than You’ve Ever Seen’ Is Coming, and Prices Are About to Drop

iShares U.S. Oil & Gas Exploration & Production ETF Company Profile

iShares U.S. Oil & Gas Exploration & Production ETF, formerly iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Oil Exploration & Production Index (the Index). The Index measures the performance of the oil exploration and production sub-sector of the United States equity market, and includes companies that are engaged in the exploration for and extraction, production, refining, and supply of oil and gas products.