iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ) Sees Significant Decline in Short Interest

iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 62,068 shares, a decline of 58.3% from the April 30th total of 148,829 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 596,310 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On iShares U.S. Oil Equipment & Services ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in iShares U.S. Oil Equipment & Services ETF during the 4th quarter worth about $35,000. Advisors Preferred LLC acquired a new position in iShares U.S. Oil Equipment & Services ETF during the 1st quarter worth about $40,000. Sunbelt Securities Inc. lifted its position in iShares U.S. Oil Equipment & Services ETF by 198.3% during the 1st quarter. Sunbelt Securities Inc. now owns 6,971 shares of the company’s stock worth $202,000 after buying an additional 4,634 shares in the last quarter. Ameriprise Financial Inc. lifted its position in iShares U.S. Oil Equipment & Services ETF by 25.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 53,762 shares of the company’s stock worth $912,000 after buying an additional 10,994 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in iShares U.S. Oil Equipment & Services ETF by 46.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 147,700 shares of the company’s stock worth $2,849,000 after buying an additional 47,000 shares in the last quarter.

iShares U.S. Oil Equipment & Services ETF Price Performance

Shares of NYSEARCA:IEZ remained flat at $30.06 on Tuesday. 1,612,884 shares of the stock traded hands, compared to its average volume of 543,372. iShares U.S. Oil Equipment & Services ETF has a 52 week low of $16.21 and a 52 week high of $32.87. The company has a fifty day moving average of $30.26 and a 200 day moving average of $26.26. The company has a market cap of $502.00 million, a P/E ratio of 11.67 and a beta of 0.91.

About iShares U.S. Oil Equipment & Services ETF

iShares U.S. Oil Equipment & Services ETF (the Fund), formerly iShares Dow Jones U.S. Oil Equipment & Services Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Oil Equipment & Services Index (the Index). The Index measures the performance of the oil equipment and services sector of the United States equity market, and includes companies that are suppliers of equipment or services to oil fields and offshore platforms, such as drilling, exploration, engineering, logistics, seismic information services and platform construction.