iShares Genomics ETF Experiences Surge in Short Interest

The iShares Genomics Immunology and Healthcare ETF (NYSEARCA:IDNA) has reported a significant increase in short interest, revealing a 277.5% rise from January to February 2023. As of February 13, the total short interest reached 33,149 shares, up from 8,781 shares on January 29. This represents approximately 0.7% of the ETF’s total shares, indicating heightened investor speculation about the fund’s future performance.

Based on an average daily trading volume of 48,195 shares, the current days-to-cover ratio stands at 0.7 days. This metric provides insight into how quickly short positions could be covered, reflecting investor sentiment towards IDNA.

Trading activity on February 17 saw shares of IDNA increase by $0.24, reaching $31.13. A total of 28,566 shares were exchanged during the trading session, slightly below the average volume of 42,663 shares. The ETF has demonstrated strong performance with a fifty-day simple moving average of $28.51 and a two-hundred-day simple moving average of $25.89. The market capitalization of the fund is currently $155.65 million, accompanied by a price-to-earnings ratio of 14.76 and a beta of 1.07. IDNA has recorded a one-year low of $17.26 and a high of $31.39.

Several hedge funds have adjusted their stakes in the iShares Genomics ETF recently. Notably, Triumph Capital Management acquired a new stake valued at $35,000 during the third quarter. Ameriprise Financial Inc. increased its ownership by 8.4%, now holding 71,473 shares valued at approximately $1.69 million after adding 5,540 shares. Similarly, Portland Global Advisors LLC raised its stake by 0.7%, owning 103,007 shares valued at $2.43 million after purchasing an additional 684 shares in the same quarter. Additionally, Flow Traders U.S. LLC invested about $931,000 in the second quarter, marking a notable shift in institutional interest.

The iShares Genomics Immunology and Healthcare ETF (IDNA) is designed to invest primarily in companies involved in genomics, immunology, and bioengineering. Launched on June 11, 2019, it tracks a market-cap-selected and weighted index of global stocks in these sectors. Managed by BlackRock, IDNA aims to provide investors exposure to the growing fields of healthcare and biotechnology.

As the ETF continues to attract investor interest, analysts will be monitoring how these recent changes in short interest affect overall market performance and investor sentiment.