iShares U.S. Regional Banks ETF (NYSEARCA:IAT) Sees Significant Decline in Short Interest

iShares U.S. Regional Banks ETF (NYSEARCA:IAT) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 145,039 shares, a drop of 54.9% from the June 30th total of 321,266 shares. Based on an average daily trading volume, of 196,554 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.4% of the shares of the company are short sold.

iShares U.S. Regional Banks ETF Price Performance

Shares of IAT stock traded up $0.90 during trading hours on Tuesday, reaching $64.37. 87,761 shares of the company traded hands, compared to its average volume of 259,619. The firm has a 50-day moving average price of $60.72 and a 200 day moving average price of $58.25. The company has a market cap of $685.54 million, a P/E ratio of 12.39 and a beta of 0.88. iShares U.S. Regional Banks ETF has a 12-month low of $47.37 and a 12-month high of $65.32.

Hedge Funds Weigh In On iShares U.S. Regional Banks ETF

A number of hedge funds have recently modified their holdings of IAT. Wealthcare Advisory Partners LLC purchased a new position in shares of iShares U.S. Regional Banks ETF during the 2nd quarter valued at $201,000. Breakwater Capital Group raised its holdings in iShares U.S. Regional Banks ETF by 12.0% during the second quarter. Breakwater Capital Group now owns 5,552 shares of the company’s stock valued at $345,000 after acquiring an additional 594 shares during the period. NewEdge Advisors LLC lifted its position in shares of iShares U.S. Regional Banks ETF by 162.9% in the first quarter. NewEdge Advisors LLC now owns 1,940 shares of the company’s stock valued at $104,000 after acquiring an additional 1,202 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of iShares U.S. Regional Banks ETF in the first quarter worth about $100,000. Finally, Bank of America Corp DE boosted its stake in shares of iShares U.S. Regional Banks ETF by 23.0% in the first quarter. Bank of America Corp DE now owns 521,170 shares of the company’s stock worth $28,060,000 after acquiring an additional 97,510 shares during the period.

iShares U.S. Regional Banks ETF Company Profile

The iShares U.S. Regional Banks ETF (IAT) is an exchange-traded fund that is based on the DJ US Select \u002F Regional Banks index. The fund tracks the performance of an index of small- and mid-cap regional banks. IAT was launched on May 1, 2006 and is managed by BlackRock.