Short Interest in iShares U.S. Insurance ETF (NYSEARCA:IAK) Increases By 176.3%

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 20,214 shares, an increase of 176.3% from the December 31st total of 7,315 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 64,474 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 64,474 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.6% of the shares of the company are sold short.

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

Several institutional investors have recently made changes to their positions in the stock. MAI Capital Management bought a new stake in shares of iShares U.S. Insurance ETF during the 3rd quarter valued at $31,000. Trust Co. of Vermont bought a new position in iShares U.S. Insurance ETF in the 3rd quarter worth about $34,000. Flagship Harbor Advisors LLC purchased a new position in iShares U.S. Insurance ETF during the 4th quarter valued at about $34,000. Financial Consulate Inc. bought a new stake in shares of iShares U.S. Insurance ETF during the third quarter valued at about $35,000. Finally, National Bank of Canada FI lifted its holdings in shares of iShares U.S. Insurance ETF by 61.5% in the third quarter. National Bank of Canada FI now owns 260 shares of the company’s stock worth $35,000 after buying an additional 99 shares in the last quarter.

iShares U.S. Insurance ETF Stock Up 0.5%

NYSEARCA IAK opened at $133.00 on Friday. The company’s 50 day moving average is $134.13 and its 200-day moving average is $131.95. iShares U.S. Insurance ETF has a 12-month low of $119.23 and a 12-month high of $138.99. The firm has a market cap of $445.55 million, a P/E ratio of 14.11 and a beta of 0.65.

About iShares U.S. Insurance ETF

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.