iShares U.S. Insurance ETF (NYSEARCA:IAK) Shares Shorted: Short Interest Down 48.1% in October

iShares U.S. Insurance ETF (NYSEARCA:IAK) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 72,785 shares, a drop of 48.1% from the September 30th total of 140,336 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average trading volume of 63,113 shares, the days-to-cover ratio is presently 1.2 days.

iShares U.S. Insurance ETF Trading Up 1.5%

iShares U.S. Insurance ETF stock traded up $2.21 during mid-day trading on Monday, hitting $151.04. The company had a trading volume of 149,404 shares, compared to its average volume of 88,640. The stock’s 50 day moving average price is $143.27 and its two-hundred day moving average price is $137.80. iShares U.S. Insurance ETF has a 12 month low of $124.62 and a 12 month high of $152.38. The company has a market capitalization of $460.67 million, a PE ratio of 14.11 and a beta of 0.50.

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

A number of hedge funds have recently bought and sold shares of IAK. Baird Financial Group Inc. increased its stake in iShares U.S. Insurance ETF by 0.4% during the 2nd quarter. Baird Financial Group Inc. now owns 20,523 shares of the company’s stock valued at $2,885,000 after purchasing an additional 79 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in shares of iShares U.S. Insurance ETF by 5.7% in the first quarter. Wealthfront Advisers LLC now owns 1,675 shares of the company’s stock worth $215,000 after buying an additional 90 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 buying an additional 114 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of iShares U.S. Insurance ETF in the first quarter worth approximately $26,000. Finally, Trust Co. of Vermont purchased a new stake in shares of iShares U.S. Insurance ETF during the second quarter valued at approximately $35,000.

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.