iShares U.S. Insurance ETF (NYSEARCA:IAK) Shares Shorted: Short Interest Up 132.4% in October

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the recipient of a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 169,156 shares, a growth of 132.4% from the October 15th total of 72,785 shares. Based on an average daily volume of 113,711 shares, the days-to-cover ratio is presently 1.5 days. Currently, 5.2% of the shares of the company are short sold.

Institutional Trading of iShares U.S. Insurance ETF

Hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. purchased a new position in iShares U.S. Insurance ETF during the third quarter valued at approximately $1,149,000. Cetera Investment Advisers boosted its position in shares of iShares U.S. Insurance ETF by 100.1% in the first quarter. Cetera Investment Advisers now owns 20,725 shares of the company’s stock worth $2,659,000 after purchasing an additional 10,366 shares during the period. Leuthold Group LLC purchased a new stake in shares of iShares U.S. Insurance ETF in the third quarter worth $1,734,000. AdvisorNet Financial Inc purchased a new stake in shares of iShares U.S. Insurance ETF in the third quarter worth $542,000. Finally, Kestra Advisory Services LLC raised its position in shares of iShares U.S. Insurance ETF by 24.4% during the 1st quarter. Kestra Advisory Services LLC now owns 1,561 shares of the company’s stock valued at $200,000 after purchasing an additional 306 shares during the period.

iShares U.S. Insurance ETF Trading Up 0.4%

Shares of IAK stock opened at $153.17 on Friday. iShares U.S. Insurance ETF has a 12 month low of $125.38 and a 12 month high of $156.68. The stock has a market cap of $505.46 million, a P/E ratio of 11.12 and a beta of 0.48. The company has a 50 day simple moving average of $144.38 and a two-hundred day simple moving average of $138.73.

iShares U.S. Insurance ETF Company Profile

The iShares U.S. Insurance ETF (IAK) is an exchange-traded fund that is based on the DJ US Select \u002F Insurance index. The fund tracks a market-cap index of US insurance companies. IAK was launched on May 1, 2006 and is managed by BlackRock.