Short Interest in iShares Self-Driving EV and Tech ETF (NYSEARCA:IDRV) Drops By 69.5%

iShares Self-Driving EV and Tech ETF (NYSEARCA:IDRV) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 21,050 shares, a decrease of 69.5% from the May 31st total of 68,942 shares. Based on an average daily trading volume, of 44,960 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Investors Weigh In On iShares Self-Driving EV and Tech ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDRV. Western Wealth Management LLC bought a new position in iShares Self-Driving EV and Tech ETF during the first quarter valued at approximately $42,000. Osaic Holdings Inc. lifted its holdings in shares of iShares Self-Driving EV and Tech ETF by 7.1% during the fourth quarter. Osaic Holdings Inc. now owns 5,639 shares of the company’s stock worth $214,000 after buying an additional 375 shares during the last quarter. WealthSpring Partners LLC acquired a new position in iShares Self-Driving EV and Tech ETF during the 4th quarter valued at $214,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of iShares Self-Driving EV and Tech ETF by 5,617.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 48,544 shares of the company’s stock valued at $1,841,000 after buying an additional 47,695 shares during the period. Finally, Biltmore Family Office LLC lifted its position in shares of iShares Self-Driving EV and Tech ETF by 8.3% in the 4th quarter. Biltmore Family Office LLC now owns 38,361 shares of the company’s stock worth $1,455,000 after acquiring an additional 2,939 shares during the period.

iShares Self-Driving EV and Tech ETF Stock Performance

Shares of NYSEARCA:IDRV opened at $37.87 on Tuesday. The firm has a 50 day simple moving average of $42.31 and a 200 day simple moving average of $40.12. The company has a market cap of $140.12 million, a PE ratio of 11.61 and a beta of 1.25. iShares Self-Driving EV and Tech ETF has a 52 week low of $30.48 and a 52 week high of $45.64.

About iShares Self-Driving EV and Tech ETF

The iShares Self-Driving EV and Tech ETF (IDRV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market-cap selected and weighted index of equities related to self-driving vehicles. IDRV was launched on Apr 16, 2019 and is managed by BlackRock.