iShares U.S. Utilities ETF (NYSEARCA:IDU) Sees Significant Drop in Short Interest

iShares U.S. Utilities ETF (NYSEARCA:IDU) saw a large decrease in short interest in December. As of December 15th, there was short interest totaling 102,868 shares, a decrease of 40.9% from the November 30th total of 173,980 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 263,872 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 263,872 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.8% of the shares of the stock are sold short.

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

Several hedge funds and other institutional investors have recently made changes to their positions in IDU. Farther Finance Advisors LLC grew its position in iShares U.S. Utilities ETF by 34.1% in the second quarter. Farther Finance Advisors LLC now owns 1,177 shares of the company’s stock valued at $123,000 after acquiring an additional 299 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of iShares U.S. Utilities ETF by 72.0% in the second quarter. Osaic Holdings Inc. now owns 87,941 shares of the company’s stock worth $9,202,000 after acquiring an additional 36,800 shares during the last quarter. Grant Private Wealth Management Inc acquired a new stake in shares of iShares U.S. Utilities ETF in the 3rd quarter valued at approximately $541,000. Allworth Financial LP boosted its stake in shares of iShares U.S. Utilities ETF by 57.4% in the 2nd quarter. Allworth Financial LP now owns 2,200 shares of the company’s stock valued at $230,000 after purchasing an additional 802 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of iShares U.S. Utilities ETF by 18.0% during the 2nd quarter. Cetera Investment Advisers now owns 40,104 shares of the company’s stock valued at $4,194,000 after purchasing an additional 6,114 shares during the last quarter.

iShares U.S. Utilities ETF Stock Performance

Shares of NYSEARCA IDU traded up $0.18 during mid-day trading on Tuesday, reaching $109.10. The company had a trading volume of 94,024 shares, compared to its average volume of 157,666. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 21.72 and a beta of 0.61. The business’s 50-day simple moving average is $111.15 and its 200 day simple moving average is $109.27. iShares U.S. Utilities ETF has a one year low of $91.91 and a one year high of $117.74.

About iShares U.S. Utilities ETF

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.