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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 29,696 shares, an increase of 131.6% from the June 15th total of 12,820 shares. Based on an average daily volume of 57,373 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the company’s stock are short sold.

iShares U.S. Financial Services ETF Stock Up 0.6%

Shares of NYSEARCA IYG traded up $0.60 during trading hours on Tuesday, hitting $94.60. The company had a trading volume of 75,791 shares, compared to its average volume of 122,284. iShares U.S. Financial Services ETF has a 1-year low of $79.86 and a 1-year high of $95.75. The firm’s 50 day moving average is $89.42 and its 200-day moving average is $88.40. The stock has a market capitalization of $2.07 billion, a P/E ratio of 18.95 and a beta of 0.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in shares of iShares U.S. Financial Services ETF by 17.4% in the 1st quarter. NewEdge Advisors LLC now owns 10,232 shares of the company’s stock valued at $804,000 after purchasing an additional 1,517 shares during the period. Focus Partners Wealth grew its holdings in iShares U.S. Financial Services ETF by 11.2% during the first quarter. Focus Partners Wealth now owns 6,826 shares of the company’s stock worth $536,000 after purchasing an additional 685 shares during the period. Baird Financial Group Inc. increased its position in iShares U.S. Financial Services ETF by 3.8% during the second quarter. Baird Financial Group Inc. now owns 8,694 shares of the company’s stock worth $744,000 after buying an additional 320 shares during the last quarter. Qube Research & Technologies Ltd increased its position in iShares U.S. Financial Services ETF by 267.7% during the second quarter. Qube Research & Technologies Ltd now owns 2,368 shares of the company’s stock worth $203,000 after buying an additional 1,724 shares during the last quarter. Finally, Florida Financial Advisors LLC bought a new stake in iShares U.S. Financial Services ETF in the second quarter valued at approximately $394,000.

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. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.