iShares U.S. Financial Services ETF (NYSEARCA:IYG) Stock Short Interest Falls 52.8%

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 46,523 shares, a decline of 52.8% from the September 30th total of 98,569 shares. Based on an average daily volume of 216,468 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On iShares U.S. Financial Services ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in iShares U.S. Financial Services ETF in the third quarter worth $27,000. Roxbury Financial LLC acquired a new position in shares of iShares U.S. Financial Services ETF during the 3rd quarter worth approximately $27,000. Highland Investment Advisors LLC acquired a new stake in iShares U.S. Financial Services ETF during the 2nd quarter worth approximately $34,000. CoreCap Advisors LLC acquired a new position in iShares U.S. Financial Services ETF during the third quarter worth approximately $46,000. Finally, Western Wealth Management LLC purchased a new position in iShares U.S. Financial Services ETF during the 1st quarter valued at about $43,000.

iShares U.S. Financial Services ETF Price Performance

Shares of IYG stock traded down $0.94 on Friday, hitting $94.26. The company’s stock had a trading volume of 100,588 shares, compared to its average volume of 119,132. iShares U.S. Financial Services ETF has a fifty-two week low of $79.86 and a fifty-two week high of $98.66. The firm’s fifty day moving average price is $94.04 and its 200-day moving average price is $90.47. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 18.95 and a beta of 0.98.

iShares U.S. Financial Services ETF Company Profile

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.