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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 89,858 shares, an increase of 48.2% from the July 15th total of 60,629 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 82,755 shares, the days-to-cover ratio is presently 1.1 days.

iShares U.S. Financial Services ETF Trading Down 0.8%

Shares of IYG stock opened at $96.81 on Thursday. The stock has a 50 day moving average of $94.08 and a two-hundred day moving average of $89.09. iShares U.S. Financial Services ETF has a 12 month low of $79.86 and a 12 month high of $98.39. The company has a market capitalization of $2.20 billion, a P/E ratio of 18.95 and a beta of 0.96.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IYG. RiverFront Investment Group LLC boosted its stake in iShares U.S. Financial Services ETF by 0.7% during the fourth quarter. RiverFront Investment Group LLC now owns 1,449,021 shares of the company’s stock worth $133,672,000 after buying an additional 10,089 shares in the last quarter. Morgan Stanley raised its stake in shares of iShares U.S. Financial Services ETF by 0.4% in the 4th quarter. Morgan Stanley now owns 1,079,849 shares of the company’s stock valued at $99,616,000 after buying an additional 4,054 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of iShares U.S. Financial Services ETF by 234.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,031,721 shares of the company’s stock valued at $95,176,000 after buying an additional 723,555 shares in the last quarter. OpenArc Corporate Advisory LLC bought a new position in shares of iShares U.S. Financial Services ETF during the 4th quarter worth about $55,635,000. Finally, Dynasty Wealth Management LLC bought a new position in shares of iShares U.S. Financial Services ETF during the 4th quarter worth about $49,084,000.

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.