Short Interest in iShares U.S. Utilities ETF (NYSEARCA:IDU) Drops By 58.4%

iShares U.S. Utilities ETF (NYSEARCA:IDU) was the recipient of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 37,941 shares, a decline of 58.4% from the July 30th total of 91,205 shares. Based on an average daily volume of 210,136 shares, the short-interest ratio is presently 0.2 days. Currently, 0.3% of the shares of the company are sold short.

iShares U.S. Utilities ETF Stock Performance

Shares of NYSEARCA IDU opened at $109.64 on Friday. The company has a market capitalization of $1.38 billion, a PE ratio of 21.72 and a beta of 0.58. The company’s fifty day moving average price is $113.49 and its 200 day moving average price is $114.69. iShares U.S. Utilities ETF has a 1 year low of $105.06 and a 1 year high of $120.82.

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

Several hedge funds have recently modified their holdings of the company. Johnson Investment Counsel Inc. increased its stake in shares of iShares U.S. Utilities ETF by 3.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,283 shares of the company’s stock valued at $356,000 after purchasing an additional 100 shares in the last quarter. IHT Wealth Management LLC boosted its position in iShares U.S. Utilities ETF by 5.8% during the fourth quarter. IHT Wealth Management LLC now owns 1,966 shares of the company’s stock worth $213,000 after purchasing an additional 108 shares in the last quarter. Money Concepts Capital Corp boosted its position in iShares U.S. Utilities ETF by 3.3% during the fourth quarter. Money Concepts Capital Corp now owns 4,055 shares of the company’s stock worth $439,000 after purchasing an additional 131 shares in the last quarter. XML Financial LLC grew its holdings in iShares U.S. Utilities ETF by 7.5% in the second quarter. XML Financial LLC now owns 2,173 shares of the company’s stock valued at $249,000 after purchasing an additional 152 shares during the period. Finally, Sei Investments Co. grew its holdings in iShares U.S. Utilities ETF by 2.7% in the first quarter. Sei Investments Co. now owns 6,355 shares of the company’s stock valued at $738,000 after purchasing an additional 167 shares during the period.

About iShares U.S. Utilities ETF

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.