Baker Avenue Asset Management LP Cuts Stake in iShares U.S. Technology ETF $IYW

Baker Avenue Asset Management LP lowered its stake in shares of iShares U.S. Technology ETF (NYSEARCA:IYW) by 92.5% during the second quarter, Holdings Channel reports. The fund owned 2,206 shares of the exchange traded fund’s stock after selling 27,015 shares during the period. Baker Avenue Asset Management LP’s holdings in iShares U.S. Technology ETF were worth $382,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PGIM Custom Harvest LLC raised its stake in iShares U.S. Technology ETF by 4.4% in the first quarter. PGIM Custom Harvest LLC now owns 4,528,761 shares of the exchange traded fund’s stock valued at $636,019,000 after buying an additional 192,008 shares in the last quarter. Laurel Wealth Advisors LLC increased its position in iShares U.S. Technology ETF by 18,553.4% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,690,017 shares of the exchange traded fund’s stock valued at $639,369,000 after acquiring an additional 3,670,235 shares during the period. Hsbc Holdings PLC raised its stake in shares of iShares U.S. Technology ETF by 52.6% during the second quarter. Hsbc Holdings PLC now owns 1,164,822 shares of the exchange traded fund’s stock worth $201,829,000 after purchasing an additional 401,472 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in iShares U.S. Technology ETF by 113.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,021,938 shares of the exchange traded fund’s stock worth $143,521,000 after buying an additional 542,816 shares during the last quarter. Finally, RiverFront Investment Group LLC raised its holdings in iShares U.S. Technology ETF by 2.8% during the second quarter. RiverFront Investment Group LLC now owns 861,595 shares of the exchange traded fund’s stock worth $149,289,000 after purchasing an additional 23,387 shares in the last quarter. Institutional investors and hedge funds own 57.65% of the company’s stock.

iShares U.S. Technology ETF Price Performance

IYW opened at $204.28 on Wednesday. iShares U.S. Technology ETF has a 12 month low of $117.55 and a 12 month high of $211.98. The business has a 50 day simple moving average of $199.93 and a 200-day simple moving average of $185.41. The stock has a market capitalization of $22.02 billion, a P/E ratio of 34.95 and a beta of 1.23.

iShares U.S. Technology ETF Profile

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index).