iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Large Increase in Short Interest

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 61,579 shares, a growth of 140.9% from the February 26th total of 25,565 shares. Based on an average daily volume of 92,779 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.9% of the company’s stock are sold short.

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

A number of hedge funds have recently added to or reduced their stakes in the company. MAI Capital Management bought a new position in iShares U.S. Insurance ETF during the third quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new stake in iShares U.S. Insurance ETF in the fourth quarter worth approximately $31,000. Trust Co. of Vermont bought a new stake in iShares U.S. Insurance ETF in the third quarter worth approximately $34,000. Flagship Harbor Advisors LLC bought a new stake in iShares U.S. Insurance ETF in the fourth quarter worth approximately $34,000. Finally, Financial Consulate Inc. acquired a new position in shares of iShares U.S. Insurance ETF during the 3rd quarter worth $35,000.

iShares U.S. Insurance ETF Price Performance

IAK opened at $127.63 on Thursday. iShares U.S. Insurance ETF has a fifty-two week low of $119.23 and a fifty-two week high of $138.99. The business has a 50-day moving average of $132.80 and a 200-day moving average of $132.76. The company has a market capitalization of $408.42 million, a PE ratio of 14.11 and a beta of 0.65.

About iShares U.S. Insurance ETF

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.