iShares Global Tech ETF (NYSEARCA:IXN) Reaches New 1-Year High – Here’s Why

iShares Global Tech ETF (NYSEARCA:IXN) shares reached a new 52-week high on Thursday . The company traded as high as $140.79 and last traded at $139.34, with a volume of 232334 shares trading hands. The stock had previously closed at $139.70.

iShares Global Tech ETF Price Performance

The stock has a market capitalization of $9.35 billion, a PE ratio of 34.73 and a beta of 1.32. The stock’s 50 day simple moving average is $118.39 and its two-hundred day simple moving average is $110.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asempa Wealth Advisors purchased a new position in iShares Global Tech ETF in the fourth quarter valued at about $852,000. Wedbush Securities Inc. boosted its stake in iShares Global Tech ETF by 173.4% in the third quarter. Wedbush Securities Inc. now owns 8,393 shares of the company’s stock valued at $866,000 after acquiring an additional 5,323 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in iShares Global Tech ETF by 10.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 99,153 shares of the company’s stock valued at $10,411,000 after acquiring an additional 9,677 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in iShares Global Tech ETF by 700.6% in the fourth quarter. Farther Finance Advisors LLC now owns 16,204 shares of the company’s stock valued at $1,701,000 after acquiring an additional 14,180 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in iShares Global Tech ETF by 541.5% in the fourth quarter. Blue Trust Inc. now owns 32,037 shares of the company’s stock valued at $3,364,000 after acquiring an additional 27,043 shares during the last quarter.

About iShares Global Tech ETF

iShares Global Tech ETF (the Fund), formerly iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Information Technology Sector Index (the Index). The Index measures the performance of companies that Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies (S&P) deems to be part of the information technology sector of the economy.