iShares Global Tech ETF (NYSEARCA:IXN) Sees Large Increase in Short Interest

iShares Global Tech ETF (NYSEARCA:IXN) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 780,701 shares, a growth of 48.3% from the January 15th total of 526,302 shares. Based on an average daily volume of 299,128 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.3% of the shares of the stock are sold short. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 299,128 shares, the days-to-cover ratio is currently 2.6 days.

iShares Global Tech ETF Price Performance

IXN traded up $0.07 during trading hours on Monday, reaching $105.70. The company’s stock had a trading volume of 107,899 shares, compared to its average volume of 352,313. iShares Global Tech ETF has a fifty-two week low of $63.58 and a fifty-two week high of $112.78. The business’s 50-day moving average is $106.24 and its 200-day moving average is $103.44. The stock has a market cap of $6.44 billion, a PE ratio of 34.73 and a beta of 1.24.

Hedge Funds Weigh In On iShares Global Tech ETF

A number of institutional investors and hedge funds have recently made changes to their positions in IXN. Continuum Advisory LLC boosted its position in iShares Global Tech ETF by 2.3% during the fourth quarter. Continuum Advisory LLC now owns 4,209 shares of the company’s stock worth $442,000 after purchasing an additional 94 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in iShares Global Tech ETF by 2.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,770 shares of the company’s stock valued at $500,000 after buying an additional 95 shares during the period. Oppenheimer & Co. Inc. grew its holdings in iShares Global Tech ETF by 2.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,088 shares of the company’s stock valued at $534,000 after purchasing an additional 98 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of iShares Global Tech ETF by 0.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 13,498 shares of the company’s stock worth $1,246,000 after buying an additional 115 shares during the last quarter. Finally, MGO One Seven LLC raised its holdings in shares of iShares Global Tech ETF by 1.3% in the 3rd quarter. MGO One Seven LLC now owns 9,559 shares of the company’s stock worth $987,000 after purchasing an additional 121 shares during the period.

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.