iShares U.S. Power Infrastructure ETF (NYSEARCA:POWR) Sees Large Drop in Short Interest

iShares U.S. Power Infrastructure ETF (NYSEARCA:POWR) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 119,283 shares, a drop of 51.5% from the June 15th total of 245,756 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 230,852 shares, the short-interest ratio is presently 0.5 days.

iShares U.S. Power Infrastructure ETF Trading Down 1.2%

Shares of POWR stock opened at $26.56 on Friday. The stock has a 50 day moving average of $27.40 and a 200 day moving average of $26.10. The stock has a market cap of $422.30 million, a P/E ratio of 189.71 and a beta of 0.45. iShares U.S. Power Infrastructure ETF has a twelve month low of $23.18 and a twelve month high of $28.44.

Hedge Funds Weigh In On iShares U.S. Power Infrastructure ETF

A hedge fund recently bought a new position in iShares U.S. Power Infrastructure ETF stock. Clal Insurance Enterprises Holdings Ltd bought a new stake in iShares U.S. Power Infrastructure ETF (NYSEARCA:POWR) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 15,000 shares of the company’s stock, valued at approximately $393,000. Clal Insurance Enterprises Holdings Ltd owned 0.14% of iShares U.S. Power Infrastructure ETF at the end of the most recent reporting period. Institutional investors and hedge funds own 60.64% of the company’s stock.