iShares U.S. Utilities ETF (NYSEARCA:IDU) Sees Significant Decline in Short Interest

iShares U.S. Utilities ETF (NYSEARCA:IDU) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 51,116 shares, a drop of 28.2% from the February 12th total of 71,232 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average trading volume of 61,279 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 61,279 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.4% of the shares of the stock are short sold.

iShares U.S. Utilities ETF Stock Performance

Shares of IDU traded up $1.03 during trading hours on Friday, hitting $118.72. 41,997 shares of the stock were exchanged, compared to its average volume of 159,408. The stock’s 50-day moving average price is $113.29 and its two-hundred day moving average price is $111.58. iShares U.S. Utilities ETF has a 12-month low of $91.91 and a 12-month high of $120.82. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 21.72 and a beta of 0.61.

Hedge Funds Weigh In On iShares U.S. Utilities ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in iShares U.S. Utilities ETF by 5.5% during the 3rd quarter. Bank of America Corp DE now owns 989,938 shares of the company’s stock valued at $109,784,000 after acquiring an additional 51,642 shares in the last quarter. Hsbc Holdings PLC lifted its stake in iShares U.S. Utilities ETF by 24,187.0% in the 4th quarter. Hsbc Holdings PLC now owns 728,611 shares of the company’s stock worth $78,952,000 after purchasing an additional 725,611 shares in the last quarter. PGIM Custom Harvest LLC lifted its stake in iShares U.S. Utilities ETF by 1.0% in the 2nd quarter. PGIM Custom Harvest LLC now owns 459,832 shares of the company’s stock worth $48,085,000 after purchasing an additional 4,412 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of iShares U.S. Utilities ETF by 14.0% during the 4th quarter. LPL Financial LLC now owns 411,813 shares of the company’s stock worth $44,624,000 after purchasing an additional 50,692 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of iShares U.S. Utilities ETF by 6.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 404,651 shares of the company’s stock worth $43,848,000 after purchasing an additional 23,361 shares during the last quarter.

iShares U.S. Utilities ETF Company Profile

iShares U.S. Utilities ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Utilities Index (the Underlying Index). The Underlying Index measures the performance of the utilities sector of the United States equity market. Its components primarily include utilities companies. BlackRock Fund Advisors acts as an investment adviser of the Fund.