iShares U.S. Technology ETF (NYSEARCA:IYW) Hits New 1-Year High – Still a Buy?
by Doug Wharley · The Cerbat GemiShares U.S. Technology ETF (NYSEARCA:IYW – Get Free Report)’s share price hit a new 52-week high on Monday . The company traded as high as $261.22 and last traded at $261.5920, with a volume of 119417 shares. The stock had previously closed at $256.87.
iShares U.S. Technology ETF Stock Performance
The firm has a fifty day moving average of $248.45 and a 200-day moving average of $231.76. The stock has a market capitalization of $26.55 billion, a price-to-earnings ratio of 34.95 and a beta of 1.36.
Institutional Investors Weigh In On iShares U.S. Technology ETF
Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of iShares U.S. Technology ETF in the 2nd quarter valued at about $200,579,000. Arlington Capital Management Inc. acquired a new stake in iShares U.S. Technology ETF during the second quarter worth about $218,000. Capital Analysts LLC raised its stake in iShares U.S. Technology ETF by 6.1% during the second quarter. Capital Analysts LLC now owns 5,096 shares of the exchange traded fund’s stock worth $1,285,000 after acquiring an additional 295 shares during the period. Capital Advantage Inc. bought a new position in iShares U.S. Technology ETF in the second quarter worth about $218,000. Finally, Concorde Asset Management LLC lifted its holdings in iShares U.S. Technology ETF by 4.3% in the second quarter. Concorde Asset Management LLC now owns 12,266 shares of the exchange traded fund’s stock worth $3,094,000 after acquiring an additional 507 shares during the last quarter. Institutional investors and hedge funds own 57.65% of the company’s stock.
iShares U.S. Technology ETF Company 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). 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.