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

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the recipient of a significant decline in short interest in 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. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 216,468 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IYG. Roxbury Financial LLC acquired a new stake in shares of iShares U.S. Financial Services ETF during the third quarter valued at about $27,000. CX Institutional purchased a new stake in shares of iShares U.S. Financial Services ETF during the third quarter worth about $27,000. Highland Investment Advisors LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the second quarter worth about $34,000. Western Wealth Management LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the first quarter worth about $43,000. Finally, CoreCap Advisors LLC acquired a new position in shares of iShares U.S. Financial Services ETF in the third quarter worth about $46,000.

iShares U.S. Financial Services ETF Trading Down 1.0%

IYG traded down $0.94 during trading on Friday, hitting $94.26. 100,588 shares of the company’s stock were exchanged, compared to its average volume of 119,132. iShares U.S. Financial Services ETF has a 1 year low of $79.86 and a 1 year high of $98.66. The stock has a 50 day moving average price of $94.01 and a 200 day moving average price of $90.48. The firm has a market cap of $2.23 billion, a P/E ratio of 18.95 and a beta of 0.98.

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.