iShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ) Sees Large Decrease in Short Interest
by Tristan Rich · The Markets DailyiShares U.S. Oil Equipment & Services ETF (NYSEARCA:IEZ – Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 192,949 shares, a decrease of 15.9% from the February 26th total of 229,382 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average daily volume of 498,925 shares, the short-interest ratio is currently 0.4 days.
iShares U.S. Oil Equipment & Services ETF Stock Performance
NYSEARCA:IEZ traded up $0.68 during mid-day trading on Tuesday, reaching $29.45. The stock had a trading volume of 28,935 shares, compared to its average volume of 515,977. iShares U.S. Oil Equipment & Services ETF has a twelve month low of $14.41 and a twelve month high of $30.35. The business has a 50 day simple moving average of $27.38 and a 200 day simple moving average of $22.94. The firm has a market capitalization of $232.66 million, a price-to-earnings ratio of 11.67 and a beta of 1.14.
Institutional Trading of iShares U.S. Oil Equipment & Services ETF
Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in shares of iShares U.S. Oil Equipment & Services ETF by 46.7% in the third quarter. BNP Paribas Financial Markets now owns 147,700 shares of the company’s stock valued at $2,849,000 after buying an additional 47,000 shares in the last quarter. Ameriprise Financial Inc. raised its position in iShares U.S. Oil Equipment & Services ETF by 42.6% in the third quarter. Ameriprise Financial Inc. now owns 76,684 shares of the company’s stock worth $1,479,000 after acquiring an additional 22,922 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in iShares U.S. Oil Equipment & Services ETF in the fourth quarter valued at $35,000.
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.