iShares U.S. Tech Breakthrough Multisector ETF (NYSEARCA:TECB) Sees Significant Drop in Short Interest

iShares U.S. Tech Breakthrough Multisector ETF (NYSEARCA:TECB) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 2,474 shares, a decrease of 34.7% from the May 31st total of 3,791 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 12,643 shares, the days-to-cover ratio is presently 0.2 days.

iShares U.S. Tech Breakthrough Multisector ETF Stock Performance

Shares of iShares U.S. Tech Breakthrough Multisector ETF stock opened at $71.77 on Friday. iShares U.S. Tech Breakthrough Multisector ETF has a 52-week low of $53.33 and a 52-week high of $74.28. The company’s 50 day moving average price is $69.25 and its 200-day moving average price is $62.50. The stock has a market capitalization of $477.27 million, a price-to-earnings ratio of 30.82 and a beta of 1.24.

Institutional Investors Weigh In On iShares U.S. Tech Breakthrough Multisector ETF

A number of large investors have recently added to or reduced their stakes in the company. Elyxium Wealth LLC purchased a new position in shares of iShares U.S. Tech Breakthrough Multisector ETF in the fourth quarter valued at about $49,000. JPMorgan Chase & Co. boosted its holdings in shares of iShares U.S. Tech Breakthrough Multisector ETF by 1,765.3% during the third quarter. JPMorgan Chase & Co. now owns 1,343 shares of the company’s stock worth $81,000 after purchasing an additional 1,271 shares during the period. Fiduciary Alliance LLC boosted its holdings in shares of iShares U.S. Tech Breakthrough Multisector ETF by 13.5% during the fourth quarter. Fiduciary Alliance LLC now owns 7,245 shares of the company’s stock worth $441,000 after purchasing an additional 860 shares during the period. Kirtland Hills Capital Management LLC boosted its holdings in shares of iShares U.S. Tech Breakthrough Multisector ETF by 50.2% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 12,229 shares of the company’s stock worth $745,000 after purchasing an additional 4,089 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of iShares U.S. Tech Breakthrough Multisector ETF by 4.4% in the third quarter. Ancora Advisors LLC now owns 22,121 shares of the company’s stock worth $1,335,000 after purchasing an additional 939 shares during the last quarter.

About iShares U.S. Tech Breakthrough Multisector ETF

The iShares U.S. Tech Breakthrough Multisector ETF (TECB) is an exchange-traded fund that is based on the NYSE FactSet U.S. Tech Breakthrough index. The fund tracks an index of US equities that could benefit from breakthrough technologies, modified market cap weighted. TECB was launched on Jan 8, 2020 and is managed by BlackRock.