Short Interest in iShares U.S. Financial Services ETF (NYSEARCA:IYG) Expands By 36.7%

iShares U.S. Financial Services ETF (NYSEARCA:IYG) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 84,854 shares, an increase of 36.7% from the March 15th total of 62,062 shares. Based on an average trading volume of 200,012 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.4% of the shares of the company are short sold.

iShares U.S. Financial Services ETF Trading Up 0.7%

IYG stock traded up $0.59 during trading on Wednesday, reaching $87.94. The stock had a trading volume of 71,826 shares, compared to its average volume of 130,569. iShares U.S. Financial Services ETF has a 52 week low of $71.25 and a 52 week high of $95.75. The stock’s 50 day moving average is $85.27 and its two-hundred day moving average is $88.37. The firm has a market cap of $2.01 billion, a PE ratio of 18.95 and a beta of 1.02.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IYG. NewEdge Advisors LLC lifted its holdings in iShares U.S. Financial Services ETF by 17.4% in the first quarter. NewEdge Advisors LLC now owns 10,232 shares of the company’s stock valued at $804,000 after acquiring an additional 1,517 shares during the period. Focus Partners Wealth lifted its holdings in iShares U.S. Financial Services ETF by 11.2% in the first quarter. Focus Partners Wealth now owns 6,826 shares of the company’s stock valued at $536,000 after acquiring an additional 685 shares during the period. Baird Financial Group Inc. lifted its holdings in iShares U.S. Financial Services ETF by 3.8% in the second quarter. Baird Financial Group Inc. now owns 8,694 shares of the company’s stock valued at $744,000 after acquiring an additional 320 shares during the period. Qube Research & Technologies Ltd lifted its holdings in iShares U.S. Financial Services ETF by 267.7% in the second quarter. Qube Research & Technologies Ltd now owns 2,368 shares of the company’s stock valued at $203,000 after acquiring an additional 1,724 shares during the period. Finally, Florida Financial Advisors LLC bought a new position in iShares U.S. Financial Services ETF in the second quarter valued at about $394,000.

About iShares U.S. Financial Services ETF

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.