iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ) Sees Significant Increase in Short Interest

iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ) was the recipient of a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 208,815 shares, an increase of 293.5% from the October 15th total of 53,070 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 728,888 shares, the days-to-cover ratio is presently 0.3 days.

iShares U.S. Oil Equipment & Services ETF Stock Performance

Shares of iShares U.S. Oil Equipment & Services ETF stock opened at $25.43 on Thursday. iShares U.S. Oil Equipment & Services ETF has a 52-week low of $19.67 and a 52-week high of $32.87. The stock has a market capitalization of $361.11 million, a price-to-earnings ratio of 19.47 and a beta of 0.97. The company’s 50 day moving average price is $27.52 and its 200-day moving average price is $28.46.

Institutional Trading of iShares U.S. Oil Equipment & Services ETF

A number of institutional investors have recently modified their holdings of IEZ. Advisors Preferred LLC purchased a new stake in shares of iShares U.S. Oil Equipment & Services ETF in the 1st quarter worth about $40,000. Harbour Investments Inc. purchased a new position in shares of iShares U.S. Oil Equipment & Services ETF during the third quarter valued at about $76,000. Parallel Advisors LLC increased its position in shares of iShares U.S. Oil Equipment & Services ETF by 131.9% during the third quarter. Parallel Advisors LLC now owns 5,202 shares of the company’s stock valued at $138,000 after buying an additional 2,959 shares during the period. Finally, Sunbelt Securities Inc. increased its position in shares of iShares U.S. Oil Equipment & Services ETF by 198.3% during the first quarter. Sunbelt Securities Inc. now owns 6,971 shares of the company’s stock valued at $202,000 after buying an additional 4,634 shares during the period.

About iShares U.S. Oil Equipment & Services ETF

iShares U.S. Oil Equipment & Services ETF (the Fund), formerly iShares Dow Jones U.S. Oil Equipment & Services Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Oil Equipment & Services Index (the Index). The Index measures the performance of the oil equipment and services sector of the United States equity market, and includes companies that are suppliers of equipment or services to oil fields and offshore platforms, such as drilling, exploration, engineering, logistics, seismic information services and platform construction.