iShares U.S. Utilities ETF (NYSEARCA:IDU) Sees Significant Decrease in Short Interest

iShares U.S. Utilities ETF (NYSEARCA:IDU) saw a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 51,116 shares, a drop of 28.2% from the February 12th total of 71,232 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 61,279 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 61,279 shares, the short-interest ratio is currently 0.8 days. Approximately 0.4% of the shares of the company are short sold.

iShares U.S. Utilities ETF Stock Performance

Shares of IDU traded up $1.03 during trading hours on Friday, reaching $118.72. 41,997 shares of the company traded hands, compared to its average volume of 159,408. The stock’s fifty day moving average is $113.29 and its 200 day moving average is $111.60. iShares U.S. Utilities ETF has a 1-year low of $91.91 and a 1-year high of $120.82. The stock has a market cap of $1.47 billion, a P/E ratio of 21.72 and a beta of 0.61.

Hedge Funds Weigh In On iShares U.S. Utilities ETF

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of iShares U.S. Utilities ETF by 5.5% during the 3rd quarter. Bank of America Corp DE now owns 989,938 shares of the company’s stock worth $109,784,000 after purchasing an additional 51,642 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of iShares U.S. Utilities ETF by 24,187.0% during the 4th quarter. Hsbc Holdings PLC now owns 728,611 shares of the company’s stock valued at $78,952,000 after acquiring an additional 725,611 shares in the last quarter. PGIM Custom Harvest LLC increased its stake in iShares U.S. Utilities ETF by 1.0% in the second quarter. PGIM Custom Harvest LLC now owns 459,832 shares of the company’s stock valued at $48,085,000 after acquiring an additional 4,412 shares during the period. LPL Financial LLC increased its stake in iShares U.S. Utilities ETF by 14.0% in the fourth quarter. LPL Financial LLC now owns 411,813 shares of the company’s stock valued at $44,624,000 after acquiring an additional 50,692 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in iShares U.S. Utilities ETF by 6.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 404,651 shares of the company’s stock worth $43,848,000 after purchasing an additional 23,361 shares in the last quarter.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.