Short Interest in ARK Israel Innovative Technology ETF (BATS:IZRL) Drops By 53.3%

ARK Israel Innovative Technology ETF (BATS:IZRL) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 39,375 shares, a decline of 53.3% from the May 14th total of 84,401 shares. Based on an average trading volume of 14,623 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.9% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ARK Israel Innovative Technology ETF stock. Provenance Wealth Advisors LLC purchased a new position in ARK Israel Innovative Technology ETF (BATS:IZRL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,448 shares of the company’s stock, valued at approximately $93,000. Provenance Wealth Advisors LLC owned 0.08% of ARK Israel Innovative Technology ETF at the end of the most recent reporting period.

ARK Israel Innovative Technology ETF Stock Performance

ARK Israel Innovative Technology ETF stock traded up $0.11 during mid-day trading on Friday, hitting $30.45. The company’s stock had a trading volume of 12,719 shares, compared to its average volume of 21,715. The company has a 50 day moving average of $30.08 and a 200-day moving average of $29.65. ARK Israel Innovative Technology ETF has a one year low of $23.65 and a one year high of $32.76. The stock has a market cap of $130.94 million, a PE ratio of 26.42 and a beta of 1.04.

About ARK Israel Innovative Technology ETF

The ARK Israel Innovative Technology ETF (IZRL) is an exchange-traded fund that is based on the ARK Israeli Innovation (USD)(TR) index. The fund tracks an equally weighted index of Israeli companies causing advancements in the areas of genomics, health care, biotechnology, industrials, manufacturing, and IT. IZRL was launched on Dec 5, 2017 and is managed by ARK.