iShares U.S. Transportation ETF (BATS:IYT) Sees Large Increase in Short Interest

iShares U.S. Transportation ETF (BATS:IYT) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,393,784 shares, a growth of 86.6% from the May 14th total of 746,818 shares. Based on an average daily volume of 583,721 shares, the short-interest ratio is presently 2.4 days. Approximately 13.8% of the shares of the stock are sold short.

iShares U.S. Transportation ETF Price Performance

Shares of BATS IYT opened at $86.51 on Monday. iShares U.S. Transportation ETF has a 52 week low of $64.34 and a 52 week high of $86.86. The firm has a 50-day moving average price of $81.08 and a 200 day moving average price of $78.33. The stock has a market capitalization of $873.75 million, a price-to-earnings ratio of 16.05 and a beta of 1.25.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IYT. BNP Paribas Financial Markets raised its position in iShares U.S. Transportation ETF by 205,850.0% during the fourth quarter. BNP Paribas Financial Markets now owns 350,115 shares of the exchange traded fund’s stock worth $26,087,000 after acquiring an additional 349,945 shares during the last quarter. Two Sigma Investments LP raised its position in iShares U.S. Transportation ETF by 1,296.9% during the third quarter. Two Sigma Investments LP now owns 273,800 shares of the exchange traded fund’s stock worth $19,634,000 after acquiring an additional 254,200 shares during the last quarter. Wells Fargo & Company MN raised its position in iShares U.S. Transportation ETF by 60.1% during the fourth quarter. Wells Fargo & Company MN now owns 359,247 shares of the exchange traded fund’s stock worth $26,767,000 after acquiring an additional 134,924 shares during the last quarter. Millennium Management LLC acquired a new position in iShares U.S. Transportation ETF during the fourth quarter worth about $8,338,000. Finally, Hudson Bay Capital Management LP acquired a new position in iShares U.S. Transportation ETF during the third quarter worth about $7,058,000.

About iShares U.S. Transportation ETF

iShares Transportation Average ETF (the Fund), formerly iShares Dow Jones Transportation Average Index Fund, is an exchange-traded fund (ETF). The Fund seek investment results that correspond generally to the price and yield performance, before fees and expenses, of Dow Jones Transportation Average Index. The Index measures the performance of the transportation sector of the United States equity market, and includes companies in the primary groups, such as airlines, trucking, railroads, air freight, transportation services and industrial services.