iShares Self-Driving EV and Tech ETF (NYSEARCA:IDRV) Sees Significant Decrease in Short Interest

iShares Self-Driving EV and Tech ETF (NYSEARCA:IDRV) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 3,885 shares, a drop of 42.7% from the August 15th total of 6,776 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 112,120 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On iShares Self-Driving EV and Tech ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of iShares Self-Driving EV and Tech ETF by 5,617.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 48,544 shares of the company’s stock worth $1,841,000 after acquiring an additional 47,695 shares in the last quarter. WealthSpring Partners LLC purchased a new position in shares of iShares Self-Driving EV and Tech ETF in the fourth quarter valued at $214,000. Integrated Wealth Concepts LLC purchased a new position in shares of iShares Self-Driving EV and Tech ETF in the second quarter valued at $104,000. Finally, Western Wealth Management LLC bought a new stake in iShares Self-Driving EV and Tech ETF in the first quarter worth $42,000.

iShares Self-Driving EV and Tech ETF Stock Down 1.3%

NYSEARCA IDRV traded down $0.45 on Wednesday, reaching $34.58. The company had a trading volume of 66,087 shares, compared to its average volume of 59,136. The stock’s 50 day moving average is $36.41 and its 200-day moving average is $39.09. The stock has a market cap of $172.87 million, a price-to-earnings ratio of 11.61 and a beta of 1.28. iShares Self-Driving EV and Tech ETF has a 52 week low of $34.35 and a 52 week high of $45.64.

About iShares Self-Driving EV and Tech ETF

The iShares Self-Driving EV and Tech ETF (IDRV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap selected and weighted index of equities related to self-driving vehicles. IDRV was launched on Apr 16, 2019 and is managed by BlackRock.