iShares U.S. Insurance ETF (NYSEARCA:IAK) Short Interest Up 70.3% in May

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 54,472 shares, a growth of 70.3% from the April 30th total of 31,991 shares. Based on an average trading volume of 35,964 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.9% of the shares of the stock are short sold.

Institutional Trading of iShares U.S. Insurance ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new position in shares of iShares U.S. Insurance ETF in the 1st quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in iShares U.S. Insurance ETF during the fourth quarter worth approximately $31,000. MAI Capital Management bought a new stake in iShares U.S. Insurance ETF during the third quarter worth approximately $31,000. Flagship Harbor Advisors LLC acquired a new position in iShares U.S. Insurance ETF in the fourth quarter worth approximately $34,000. Finally, National Bank of Canada FI grew its position in iShares U.S. Insurance ETF by 61.5% in the third quarter. National Bank of Canada FI now owns 260 shares of the company’s stock worth $35,000 after buying an additional 99 shares during the last quarter.

iShares U.S. Insurance ETF Trading Down 0.6%

NYSEARCA:IAK traded down $0.73 during midday trading on Wednesday, hitting $128.38. 5,204 shares of the stock were exchanged, compared to its average volume of 64,253. The company has a market capitalization of $359.46 million, a price-to-earnings ratio of 14.11 and a beta of 0.54. iShares U.S. Insurance ETF has a one year low of $124.62 and a one year high of $138.66. The business has a 50-day moving average price of $130.92 and a two-hundred day moving average price of $132.91.

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.