iShares Global Timber & Forestry ETF (NASDAQ:WOOD) Sees Large Drop in Short Interest

iShares Global Timber & Forestry ETF (NASDAQ:WOOD) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 9,165 shares, a decline of 85.4% from the August 31st total of 62,838 shares. Based on an average daily trading volume, of 40,836 shares, the short-interest ratio is presently 0.2 days. Approximately 0.2% of the shares of the stock are sold short.

iShares Global Timber & Forestry ETF Stock Performance

Shares of WOOD opened at $69.19 on Friday. iShares Global Timber & Forestry ETF has a 1 year low of $64.53 and a 1 year high of $83.32. The company’s 50 day simple moving average is $71.35 and its 200 day simple moving average is $69.53. The company has a market capitalization of $265.69 million, a price-to-earnings ratio of 16.65 and a beta of 0.74.

Institutional Trading of iShares Global Timber & Forestry ETF

A number of institutional investors have recently modified their holdings of WOOD. Bank of America Corp DE grew its stake in iShares Global Timber & Forestry ETF by 46.9% during the first quarter. Bank of America Corp DE now owns 121,529 shares of the company’s stock worth $8,622,000 after buying an additional 38,778 shares during the period. Corient Private Wealth LP purchased a new position in shares of iShares Global Timber & Forestry ETF in the 2nd quarter valued at $7,917,000. Envestnet Asset Management Inc. boosted its position in iShares Global Timber & Forestry ETF by 303.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 113,169 shares of the company’s stock worth $7,496,000 after purchasing an additional 85,123 shares during the period. Proficio Capital Partners LLC purchased a new stake in iShares Global Timber & Forestry ETF during the 2nd quarter worth $7,115,000. Finally, Baird Financial Group Inc. acquired a new stake in iShares Global Timber & Forestry ETF in the 2nd quarter valued at $1,893,000.

iShares Global Timber & Forestry ETF Company Profile

iShares Global Timber & Forestry ETF, formerly iShares S&P Global Timber & Forestry Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global Timber & Forestry Index (the Index). The Index consists of approximately 25 publicly-traded companies engaged in the ownership, management or upstream supply chain of forests and timberlands. These include forest products companies, timber real estate investment trusts (REITs), paper products companies, paper packaging companies and agricultural products companies.