iShares U.S. Technology ETF (NYSEARCA:IYW) Sees Significant Drop in Short Interest

iShares U.S. Technology ETF (NYSEARCA:IYW) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totaling 735,748 shares, a decline of 40.3% from the December 31st total of 1,233,334 shares. Based on an average trading volume of 914,944 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.7% of the company’s stock are sold short. Currently, 0.7% of the company’s stock are sold short. Based on an average trading volume of 914,944 shares, the days-to-cover ratio is presently 0.8 days.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bell Investment Advisors Inc acquired a new position in iShares U.S. Technology ETF during the 2nd quarter worth $25,000. Harbor Asset Planning Inc. bought a new position in iShares U.S. Technology ETF in the 2nd quarter valued at about $27,000. Bogart Wealth LLC grew its position in iShares U.S. Technology ETF by 189.3% in the 2nd quarter. Bogart Wealth LLC now owns 162 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 106 shares in the last quarter. Triumph Capital Management acquired a new position in iShares U.S. Technology ETF during the 3rd quarter valued at about $28,000. Finally, Bangor Savings Bank bought a new stake in shares of iShares U.S. Technology ETF during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 57.65% of the company’s stock.

iShares U.S. Technology ETF Stock Down 1.7%

Shares of IYW traded down $3.52 during midday trading on Friday, hitting $198.37. The company had a trading volume of 1,560,787 shares, compared to its average volume of 1,034,069. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of 34.95 and a beta of 1.23. The company’s 50 day moving average price is $200.23 and its 200 day moving average price is $194.07. iShares U.S. Technology ETF has a 52 week low of $117.55 and a 52 week high of $211.98.

iShares U.S. Technology ETF Company Profile

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.