iShares U.S. Tech Independence Focused ETF (BATS:IETC) Hits New 1-Year High – Here’s Why

iShares U.S. Tech Independence Focused ETF (BATS:IETC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $109.28 and last traded at $108.66, with a volume of 9296 shares traded. The stock had previously closed at $107.68.

iShares U.S. Tech Independence Focused ETF Trading Up 0.8%

The firm has a market capitalization of $781.85 million, a price-to-earnings ratio of 37.47 and a beta of 1.18. The stock has a fifty day moving average of $97.46 and a 200-day moving average of $98.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vestor Capital LLC grew its holdings in shares of iShares U.S. Tech Independence Focused ETF by 2,204.8% during the first quarter. Vestor Capital LLC now owns 11,086 shares of the company’s stock valued at $980,000 after buying an additional 10,605 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of iShares U.S. Tech Independence Focused ETF by 84.7% during the first quarter. Royal Bank of Canada now owns 40,924 shares of the company’s stock valued at $3,617,000 after buying an additional 18,763 shares in the last quarter. Liberty One Investment Management LLC purchased a new position in iShares U.S. Tech Independence Focused ETF in the first quarter valued at about $1,660,000. Cetera Investment Advisers grew its stake in iShares U.S. Tech Independence Focused ETF by 9.9% in the first quarter. Cetera Investment Advisers now owns 8,133 shares of the company’s stock valued at $719,000 after purchasing an additional 733 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in iShares U.S. Tech Independence Focused ETF by 10.0% in the first quarter. Sigma Planning Corp now owns 13,592 shares of the company’s stock valued at $1,201,000 after purchasing an additional 1,241 shares in the last quarter.

iShares U.S. Tech Independence Focused ETF Company Profile

The iShares Evolved U.S. Technology ETF (IETC) is an exchange-traded fund that is based on the MSCI USA IMI Information Technology index. The fund is an actively managed fund of US stocks in the information technology sector according to an alternative classification system defined by machine learning algorithms. The market cap-weighted fund targets an increased exposure to firms with high Technology Independence Score. IETC was launched on Mar 21, 2018 and is managed by BlackRock.