Financial Advocates Investment Management Decreases Position in iShares U.S. Technology ETF $IYW

Financial Advocates Investment Management trimmed its holdings in iShares U.S. Technology ETF (NYSEARCA:IYW) by 62.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,084 shares of the exchange traded fund’s stock after selling 6,699 shares during the quarter. Financial Advocates Investment Management’s holdings in iShares U.S. Technology ETF were worth $800,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of iShares U.S. Technology ETF by 99.1% in the 3rd quarter. Principal Financial Group Inc. now owns 107,427 shares of the exchange traded fund’s stock valued at $21,041,000 after purchasing an additional 53,466 shares during the period. Sigma Investment Counselors Inc. purchased a new stake in iShares U.S. Technology ETF in the second quarter valued at approximately $224,000. Ashton Thomas Securities LLC purchased a new stake in iShares U.S. Technology ETF in the third quarter valued at approximately $1,093,000. HB Wealth Management LLC boosted its holdings in shares of iShares U.S. Technology ETF by 48.2% in the third quarter. HB Wealth Management LLC now owns 16,713 shares of the exchange traded fund’s stock valued at $3,274,000 after acquiring an additional 5,439 shares during the period. Finally, Moulton Wealth Management Inc. purchased a new position in shares of iShares U.S. Technology ETF during the third quarter worth approximately $2,839,000. 57.65% of the stock is currently owned by hedge funds and other institutional investors.

iShares U.S. Technology ETF Stock Performance

NYSEARCA IYW opened at $190.79 on Friday. The firm’s fifty day moving average is $199.37 and its two-hundred day moving average is $194.91. iShares U.S. Technology ETF has a one year low of $117.55 and a one year high of $211.98. The firm has a market cap of $19.97 billion, a PE ratio of 34.95 and a beta of 1.23.

About iShares U.S. Technology ETF

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). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.