iShares Global Timber & Forestry ETF (NASDAQ:WOOD) Stock Short Interest Drops 85.4%

iShares Global Timber & Forestry ETF (NASDAQ:WOOD) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 9,165 shares, a drop of 85.4% from the August 31st total of 62,838 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 40,836 shares, the days-to-cover ratio is currently 0.2 days.

iShares Global Timber & Forestry ETF Stock Down 2.0%

NASDAQ WOOD opened at $69.19 on Friday. iShares Global Timber & Forestry ETF has a fifty-two week low of $64.53 and a fifty-two week high of $83.32. The business has a 50 day moving average price of $71.35 and a two-hundred day moving average price of $69.53. The stock has a market cap of $265.69 million, a PE ratio of 16.65 and a beta of 0.74.

Institutional Investors Weigh In On iShares Global Timber & Forestry ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in iShares Global Timber & Forestry ETF by 46.9% in the 1st quarter. Bank of America Corp DE now owns 121,529 shares of the company’s stock valued at $8,622,000 after buying an additional 38,778 shares during the last quarter. Corient Private Wealth LP acquired a new position in shares of iShares Global Timber & Forestry ETF in the second quarter worth about $7,917,000. Envestnet Asset Management Inc. boosted its holdings in iShares Global Timber & Forestry ETF by 303.5% in the second quarter. Envestnet Asset Management Inc. now owns 113,169 shares of the company’s stock valued at $7,496,000 after purchasing an additional 85,123 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in iShares Global Timber & Forestry ETF in the second quarter valued at about $7,115,000. Finally, Baird Financial Group Inc. acquired a new stake in iShares Global Timber & Forestry ETF during the 2nd quarter valued at approximately $1,893,000.

About iShares Global Timber & Forestry ETF

iShares Global Timber & Forestry ETF, formerly iShares S&P Global Timber & Forestry 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 S&P Global Timber & Forestry Index (the Index). The Index consists of approximately 25 publicly-traded companies engaged in the ownership, management or upstream supply chain of forests and timberlands. These include forest products companies, timber real estate investment trusts (REITs), paper products companies, paper packaging companies and agricultural products companies.