iShares U.S. Financial Services ETF (NYSEARCA:IYG) Sees Large Growth in Short Interest

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 90,182 shares, a growth of 52.4% from the January 29th total of 59,163 shares. Based on an average daily volume of 83,779 shares, the short-interest ratio is presently 1.1 days. Currently, 0.4% of the company’s stock are short sold. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 83,779 shares, the short-interest ratio is presently 1.1 days.

iShares U.S. Financial Services ETF Trading Down 2.6%

Shares of IYG opened at $85.93 on Friday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 18.95 and a beta of 1.11. iShares U.S. Financial Services ETF has a 12 month low of $65.98 and a 12 month high of $95.75. The firm has a fifty day simple moving average of $90.96 and a 200 day simple moving average of $89.59.

Hedge Funds Weigh In On iShares U.S. Financial Services ETF

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in iShares U.S. Financial Services ETF by 234.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock worth $95,176,000 after acquiring an additional 723,555 shares in the last quarter. OpenArc Corporate Advisory LLC bought a new position in iShares U.S. Financial Services ETF in the fourth quarter valued at approximately $55,635,000. Sagespring Wealth Partners LLC acquired a new position in shares of iShares U.S. Financial Services ETF during the 4th quarter worth approximately $53,175,000. Dynasty Wealth Management LLC bought a new stake in shares of iShares U.S. Financial Services ETF during the 4th quarter worth approximately $49,084,000. Finally, Kozak & Associates Inc. boosted its holdings in shares of iShares U.S. Financial Services ETF by 30.8% in the 3rd quarter. Kozak & Associates Inc. now owns 417,733 shares of the company’s stock valued at $35,875,000 after buying an additional 98,267 shares during the last quarter.

About iShares U.S. Financial Services ETF

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.