iShares Energy Storage & Materials ETF (NASDAQ:IBAT) Sees Large Increase in Short Interest

iShares Energy Storage & Materials ETF (NASDAQ:IBAT) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 63,178 shares, an increase of 951.6% from the April 30th total of 6,008 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily volume of 64,217 shares, the days-to-cover ratio is presently 1.0 days.

iShares Energy Storage & Materials ETF Stock Performance

Shares of NASDAQ:IBAT traded down $0.92 during midday trading on Wednesday, hitting $46.23. The company’s stock had a trading volume of 34,284 shares, compared to its average volume of 34,592. The stock has a market capitalization of $70.27 million, a price-to-earnings ratio of 18.48 and a beta of 1.43. The stock’s 50 day simple moving average is $39.50 and its 200 day simple moving average is $34.38. iShares Energy Storage & Materials ETF has a fifty-two week low of $20.58 and a fifty-two week high of $47.47.

Institutional Investors Weigh In On iShares Energy Storage & Materials ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Glassman Wealth Services acquired a new stake in shares of iShares Energy Storage & Materials ETF in the first quarter valued at about $154,000. 4WEALTH Advisors Inc. bought a new stake in shares of iShares Energy Storage & Materials ETF in the first quarter valued at about $218,000. Sanctuary Advisors LLC bought a new stake in shares of iShares Energy Storage & Materials ETF in the first quarter valued at about $230,000. Flow Traders U.S. LLC bought a new stake in shares of iShares Energy Storage & Materials ETF in the second quarter valued at about $252,000. Finally, Citadel Advisors LLC bought a new stake in shares of iShares Energy Storage & Materials ETF in the third quarter valued at about $644,000.

About iShares Energy Storage & Materials ETF

The iShares Energy Storage & Materials ETF (IBAT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a price-weighted index of companies involved in energy storage solutions around the globe. The fund seeks to provide long-term growth opportunities from companies involved in the transition to a low-carbon economy. IBAT was launched on Mar 19, 2024 and is issued by BlackRock.