The iShares LifePath Target Date 2045 ETF (NYSEARCA:ITDE) experienced a significant increase in short interest as of January 15, 2024. The total short interest surged to 3,170 shares, marking a substantial rise of 133.6% from the 1,357 shares reported at the end of December. With an average daily trading volume of 18,112 shares, this implies a short-interest ratio of only 0.2 days, indicating that 0.2% of the fund’s shares are currently short sold.
Several hedge funds have recently adjusted their positions in the iShares LifePath Target Date 2045 ETF. Geneos Wealth Management Inc. acquired a new stake valued at $34,000 during the first quarter, while Capital Advisors Ltd. LLC established a new position worth $53,000 in the previous quarter. Additionally, Sunbelt Securities Inc. dramatically increased its holdings by 2,054.5% in the third quarter, owning 2,607 shares valued at around $94,000 after purchasing 2,486 shares in the last quarter. Susquehanna International Group LLP also increased its stake by 38.4%, now holding 9,001 shares worth $323,000.
Market Performance and Investor Insights
On January 19, 2024, the iShares LifePath Target Date 2045 ETF saw a slight decline, trading down 0.7% to $37.20 during market hours. A total of 20,729 shares changed hands, surpassing its average trading volume of 17,001 shares. Over the past twelve months, the ETF reached a low of $27.42 and a high of $37.64. The fund’s 50-day moving average stands at $36.73, while the 200-day moving average is $35.83. Currently, the ETF has a market capitalization of $58.03 million and a price-to-earnings ratio of 20.03, with a beta of 0.82.
The iShares LifePath Target Date 2045 ETF, launched by BlackRock on October 17, 2023, primarily invests in a diversified target date asset allocation strategy. It employs an actively managed fund-of-funds approach, focusing on equity, fixed income, and money market ETFs. The fund aims to adjust its asset allocation as the target retirement date approaches, making it suitable for investors planning to retire around 2045.
In summary, the recent spike in short interest and active trading by hedge funds indicates growing interest in the iShares LifePath Target Date 2045 ETF. Investors and market analysts will be closely monitoring these developments as they assess the fund’s performance and potential future trends.
