iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Significant Drop in Short Interest

iShares U.S. Insurance ETF (NYSEARCA:IAK) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 22,400 shares, a decrease of 78.7% from the May 15th total of 105,300 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 93,200 shares, the short-interest ratio is presently 0.2 days.

iShares U.S. Insurance ETF Stock Performance

NYSEARCA:IAK opened at $131.60 on Thursday. The stock’s fifty day moving average is $132.36 and its 200 day moving average is $131.30. iShares U.S. Insurance ETF has a fifty-two week low of $110.92 and a fifty-two week high of $139.08. The firm has a market capitalization of $809.34 million, a PE ratio of 13.69 and a beta of 0.69.

Institutional Trading of iShares U.S. Insurance ETF

Several institutional investors and hedge funds have recently made changes to their positions in IAK. Kestra Private Wealth Services LLC raised its holdings in shares of iShares U.S. Insurance ETF by 121.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 8,781 shares of the company’s stock valued at $1,111,000 after acquiring an additional 4,819 shares in the last quarter. Sonata Capital Group Inc. raised its holdings in shares of iShares U.S. Insurance ETF by 6.7% in the fourth quarter. Sonata Capital Group Inc. now owns 4,000 shares of the company’s stock valued at $506,000 after acquiring an additional 250 shares in the last quarter. Allworth Financial LP bought a new stake in shares of iShares U.S. Insurance ETF in the fourth quarter valued at about $1,617,000. Fortis Group Advisors LLC raised its holdings in shares of iShares U.S. Insurance ETF by 19.0% in the fourth quarter. Fortis Group Advisors LLC now owns 19,730 shares of the company’s stock valued at $2,495,000 after acquiring an additional 3,155 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of iShares U.S. Insurance ETF by 11.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 5,181 shares of the company’s stock valued at $655,000 after acquiring an additional 515 shares in the last quarter.

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.