iShares U.S. Insurance ETF (NYSEARCA:IAK) Sees Large Increase in Short Interest

iShares U.S. Insurance ETF (NYSEARCA:IAK) was the recipient of a significant growth in short interest in October. As of October 30th, there was short interest totaling 169,156 shares, a growth of 132.4% from the October 15th total of 72,785 shares. Based on an average daily trading volume, of 113,711 shares, the days-to-cover ratio is presently 1.5 days. Approximately 5.2% of the shares of the stock are sold short.

iShares U.S. Insurance ETF Stock Up 0.4%

iShares U.S. Insurance ETF stock opened at $153.17 on Friday. iShares U.S. Insurance ETF has a 52-week low of $125.38 and a 52-week high of $156.68. The firm’s fifty day moving average is $144.38 and its 200 day moving average is $138.73. The company has a market cap of $505.46 million, a price-to-earnings ratio of 11.12 and a beta of 0.48.

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

Several institutional investors have recently made changes to their positions in IAK. Jacobi Capital Management LLC purchased a new stake in iShares U.S. Insurance ETF during the third quarter worth $27,000. Harbour Investments Inc. bought a new position in shares of iShares U.S. Insurance ETF during the 3rd quarter worth approximately $32,000. Trust Co. of Vermont purchased a new stake in iShares U.S. Insurance ETF during the second quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its holdings in iShares U.S. Insurance ETF by 34.2% in the third quarter. Farther Finance Advisors LLC now owns 447 shares of the company’s stock worth $61,000 after purchasing an additional 114 shares during the last quarter. Finally, Compass Financial Management LLC purchased a new position in iShares U.S. Insurance ETF in the second quarter worth $66,000.

iShares U.S. Insurance ETF Company Profile

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.