iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) Sees Large Growth in Short Interest

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSEARCA:IAI) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 263,419 shares, an increase of 312.9% from the May 14th total of 63,805 shares. Based on an average daily volume of 121,034 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 3,234 shares of the company’s stock valued at $572,000 after buying an additional 683 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 3.2% during the third quarter. Ameriprise Financial Inc. now owns 122,669 shares of the company’s stock valued at $21,714,000 after buying an additional 3,811 shares in the last quarter. IFP Advisors Inc boosted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 12,637.6% during the third quarter. IFP Advisors Inc now owns 33,500 shares of the company’s stock valued at $5,925,000 after buying an additional 33,237 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in iShares U.S. Broker-Dealers & Securities Exchanges ETF during the fourth quarter valued at about $48,000. Finally, Jackson Wealth Management LLC boosted its stake in iShares U.S. Broker-Dealers & Securities Exchanges ETF by 22.5% during the fourth quarter. Jackson Wealth Management LLC now owns 6,407 shares of the company’s stock valued at $1,149,000 after buying an additional 1,178 shares in the last quarter.

iShares U.S. Broker-Dealers & Securities Exchanges ETF Stock Performance

NYSEARCA:IAI opened at $184.27 on Friday. iShares U.S. Broker-Dealers & Securities Exchanges ETF has a 1 year low of $153.44 and a 1 year high of $191.62. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 23.81 and a beta of 1.08. The business has a fifty day moving average of $177.38 and a 200-day moving average of $176.53.

About iShares U.S. Broker-Dealers & Securities Exchanges ETF

iShares U.S. Broker-Dealers ETF (the Fund), formerly iShares Dow Jones U.S. Broker-Dealers Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Investment Services Index (the Index). The Index measures the performance of the investment services sector of the United States equity market, and includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges.