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

iShares U.S. Insurance ETF (NYSEARCA:IAK) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 25,565 shares, a decrease of 49.5% from the February 12th total of 50,650 shares. Based on an average daily volume of 90,018 shares, the short-interest ratio is presently 0.3 days. Currently, 0.8% of the company’s stock are short sold. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 90,018 shares, the short-interest ratio is presently 0.3 days.

iShares U.S. Insurance ETF Stock Performance

NYSEARCA IAK remained flat at $130.95 during trading on Friday. The company’s stock had a trading volume of 91,641 shares, compared to its average volume of 81,515. The firm has a market cap of $419.04 million, a PE ratio of 14.11 and a beta of 0.65. The stock has a 50-day simple moving average of $133.73 and a 200 day simple moving average of $133.00. iShares U.S. Insurance ETF has a 12 month low of $119.23 and a 12 month high of $138.99.

Institutional Investors Weigh In On iShares U.S. Insurance ETF

Institutional investors have recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC increased its stake in iShares U.S. Insurance ETF by 11.5% in the third quarter. Miracle Mile Advisors LLC now owns 244,175 shares of the company’s stock valued at $32,727,000 after purchasing an additional 25,249 shares during the last quarter. MML Investors Services LLC lifted its position in shares of iShares U.S. Insurance ETF by 48.8% during the 2nd quarter. MML Investors Services LLC now owns 218,944 shares of the company’s stock worth $29,439,000 after buying an additional 71,783 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of iShares U.S. Insurance ETF by 58.6% during the 2nd quarter. Osaic Holdings Inc. now owns 129,238 shares of the company’s stock worth $17,377,000 after buying an additional 47,763 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of iShares U.S. Insurance ETF by 6.7% in the 2nd quarter. Bank of America Corp DE now owns 123,116 shares of the company’s stock valued at $16,554,000 after buying an additional 7,703 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of iShares U.S. Insurance ETF by 9.0% in the 3rd quarter. Advisory Services Network LLC now owns 116,213 shares of the company’s stock valued at $15,576,000 after buying an additional 9,617 shares in the last quarter.

iShares U.S. Insurance ETF Company Profile

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.