iShares U.S. Technology ETF (NYSEARCA:IYW) Sets New 1-Year High – Still a Buy?

Shares of iShares U.S. Technology ETF (NYSEARCA:IYW) reached a new 52-week high on Monday . The stock traded as high as $222.00 and last traded at $221.39, with a volume of 45614 shares. The stock had previously closed at $221.01.

iShares U.S. Technology ETF Price Performance

The business has a 50 day simple moving average of $194.62 and a 200-day simple moving average of $197.63. The stock has a market capitalization of $21.77 billion, a price-to-earnings ratio of 34.95 and a beta of 1.33.

Institutional Trading of iShares U.S. Technology ETF

Several hedge funds have recently bought and sold shares of IYW. JPMorgan Chase & Co. boosted its holdings in shares of iShares U.S. Technology ETF by 34.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,033,291 shares of the exchange traded fund’s stock valued at $805,368,000 after buying an additional 1,031,871 shares during the period. Focus Partners Wealth boosted its stake in iShares U.S. Technology ETF by 450.1% in the 4th quarter. Focus Partners Wealth now owns 312,367 shares of the exchange traded fund’s stock worth $62,373,000 after purchasing an additional 255,584 shares during the period. Sagespring Wealth Partners LLC increased its holdings in iShares U.S. Technology ETF by 41.1% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 737,156 shares of the exchange traded fund’s stock worth $144,379,000 after purchasing an additional 214,654 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of iShares U.S. Technology ETF in the 4th quarter valued at about $41,199,000. Finally, Morgan Stanley lifted its holdings in shares of iShares U.S. Technology ETF by 3.3% in the fourth quarter. Morgan Stanley now owns 5,773,004 shares of the exchange traded fund’s stock valued at $1,152,754,000 after purchasing an additional 186,297 shares in the last quarter. 57.65% of the stock is currently owned by institutional investors and hedge funds.

About iShares U.S. Technology ETF

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.