iShares U.S. Insurance ETF (NYSEARCA:IAK) Stock Short Interest Falls 48.1%

by · The Markets Daily

iShares U.S. Insurance ETF (NYSEARCA:IAK – Get Free Report) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 72,785 shares, a drop of 48.1% from the September 30th total of 140,336 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily volume of 63,113 shares, the days-to-cover ratio is currently 1.2 days.

iShares U.S. Insurance ETF Stock Performance

NYSEARCA:IAK traded up $0.33 on Friday, hitting $148.83. 124,493 shares of the stock were exchanged, compared to its average volume of 88,350. The stock has a market capitalization of $453.93 million, a price-to-earnings ratio of 14.11 and a beta of 0.50. iShares U.S. Insurance ETF has a 52 week low of $124.62 and a 52 week high of $152.38. The company’s 50-day moving average price is $143.13 and its 200 day moving average price is $137.70.

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

Several institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of iShares U.S. Insurance ETF during the third quarter worth approximately $309,000. D.A. Davidson & CO. bought a new position in iShares U.S. Insurance ETF in the third quarter valued at approximately $1,149,000. Sonata Capital Group Inc. bought a new position in iShares U.S. Insurance ETF in the third quarter valued at approximately $413,000. AdvisorNet Financial Inc bought a new position in iShares U.S. Insurance ETF in the third quarter valued at approximately $542,000. Finally, Farther Finance Advisors LLC grew its holdings in iShares U.S. Insurance ETF by 34.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 447 shares of the company’s stock worth $61,000 after acquiring an additional 114 shares during the period.

About iShares U.S. Insurance ETF

(Get Free Report)

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.

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