Short Interest in iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Expands By 64.2%

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 5,305,014 shares, a growth of 64.2% from the January 15th total of 3,230,946 shares. Currently, 8.6% of the company’s stock are sold short. Based on an average trading volume of 2,272,511 shares, the days-to-cover ratio is currently 2.3 days. Based on an average trading volume of 2,272,511 shares, the days-to-cover ratio is currently 2.3 days. Currently, 8.6% of the company’s stock are sold short.

Institutional Trading of iShares U.S. Medical Devices ETF

Several institutional investors have recently added to or reduced their stakes in IHI. Morgan Stanley grew its position in iShares U.S. Medical Devices ETF by 14.4% in the 4th quarter. Morgan Stanley now owns 3,440,023 shares of the company’s stock valued at $213,798,000 after buying an additional 432,620 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of iShares U.S. Medical Devices ETF by 19.1% during the second quarter. Bank of America Corp DE now owns 1,934,996 shares of the company’s stock valued at $121,208,000 after acquiring an additional 310,962 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of iShares U.S. Medical Devices ETF by 0.6% during the second quarter. Envestnet Asset Management Inc. now owns 757,244 shares of the company’s stock valued at $47,434,000 after buying an additional 4,574 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of iShares U.S. Medical Devices ETF by 1.0% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 698,129 shares of the company’s stock worth $41,823,000 after purchasing an additional 7,200 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of iShares U.S. Medical Devices ETF by 83.4% in the third quarter. JPMorgan Chase & Co. now owns 490,874 shares of the company’s stock worth $29,492,000 after acquiring an additional 223,216 shares during the last quarter.

iShares U.S. Medical Devices ETF Stock Performance

Shares of IHI stock traded up $0.63 during trading hours on Friday, reaching $57.99. The company had a trading volume of 1,581,324 shares, compared to its average volume of 2,220,085. The company has a market capitalization of $3.59 billion, a P/E ratio of 30.76 and a beta of 0.89. iShares U.S. Medical Devices ETF has a twelve month low of $52.90 and a twelve month high of $64.99. The stock’s fifty day simple moving average is $61.41 and its 200 day simple moving average is $61.38.

iShares U.S. Medical Devices ETF Company Profile

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.