Short Interest in iShares U.S. Insurance ETF (NYSEARCA:IAK) Increases By 140.9%
by Jessica Moore · The Cerbat GemiShares U.S. Insurance ETF (NYSEARCA:IAK – Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 61,579 shares, an increase of 140.9% from the February 26th total of 25,565 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 92,779 shares, the short-interest ratio is presently 0.7 days.
iShares U.S. Insurance ETF Price Performance
Shares of NYSEARCA IAK opened at $125.53 on Friday. The stock’s 50-day moving average is $132.64 and its two-hundred day moving average is $132.68. iShares U.S. Insurance ETF has a 1-year low of $119.23 and a 1-year high of $138.99. The company has a market cap of $401.70 million, a price-to-earnings ratio of 14.11 and a beta of 0.65.
Institutional Trading of iShares U.S. Insurance ETF
Large investors have recently made changes to their positions in the company. Access Financial Services Inc. acquired a new position in iShares U.S. Insurance ETF during the 3rd quarter worth approximately $814,000. Commonwealth Equity Services LLC raised its holdings in shares of iShares U.S. Insurance ETF by 910.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 93,380 shares of the company’s stock valued at $12,516,000 after purchasing an additional 84,134 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of iShares U.S. Insurance ETF in the 2nd quarter valued at $253,000. Flow Traders U.S. LLC purchased a new stake in shares of iShares U.S. Insurance ETF during the 2nd quarter worth $671,000. Finally, Envestnet Asset Management Inc. lifted its position in shares of iShares U.S. Insurance ETF by 37.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,038 shares of the company’s stock worth $408,000 after purchasing an additional 827 shares during the last quarter.
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.