iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Strong Trading Volume – What’s Next?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) shares saw unusually-strong trading volume on Friday . Approximately 544,717 shares changed hands during trading, an increase of 199% from the previous session’s volume of 181,973 shares.The stock last traded at $56.20 and had previously closed at $55.12.

iShares Cybersecurity and Tech ETF Price Performance

The company’s 50 day moving average is $53.18 and its 200 day moving average is $48.70. The stock has a market cap of $904.23 million, a price-to-earnings ratio of 26.03 and a beta of 0.82.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Western Wealth Management LLC boosted its stake in shares of iShares Cybersecurity and Tech ETF by 16.9% during the 1st quarter. Western Wealth Management LLC now owns 6,324 shares of the company’s stock worth $276,000 after acquiring an additional 913 shares in the last quarter. Royal Bank of Canada increased its stake in iShares Cybersecurity and Tech ETF by 4.0% in the 1st quarter. Royal Bank of Canada now owns 141,754 shares of the company’s stock valued at $6,187,000 after purchasing an additional 5,511 shares in the last quarter. Waverly Advisors LLC purchased a new position in iShares Cybersecurity and Tech ETF in the 1st quarter valued at approximately $44,000. Lido Advisors LLC raised its holdings in iShares Cybersecurity and Tech ETF by 5.2% during the first quarter. Lido Advisors LLC now owns 38,566 shares of the company’s stock worth $1,683,000 after purchasing an additional 1,905 shares during the last quarter. Finally, Pacific Sun Financial Corp raised its holdings in iShares Cybersecurity and Tech ETF by 42.6% during the first quarter. Pacific Sun Financial Corp now owns 13,713 shares of the company’s stock worth $599,000 after purchasing an additional 4,096 shares during the last quarter.

iShares Cybersecurity and Tech ETF Company Profile

The iShares Cybersecurity and Tech ETF (IHAK) is an exchange-traded fund that is based on the NYSE FactSet Global Cyber Security index. The fund tracks a market cap-selected and -weighted index of large- and mid-cap companies involved in cyber hardware and software. IHAK was launched on Jun 11, 2019 and is managed by BlackRock.