Pettinga Financial Advisors LLC Cuts Stake in iShares U.S. Technology ETF $IYW

Pettinga Financial Advisors LLC cut its position in iShares U.S. Technology ETF (NYSEARCA:IYW) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,900 shares of the exchange traded fund’s stock after selling 7,785 shares during the period. iShares U.S. Technology ETF accounts for approximately 2.5% of Pettinga Financial Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Pettinga Financial Advisors LLC owned about 0.06% of iShares U.S. Technology ETF worth $15,865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in iShares U.S. Technology ETF by 34.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,033,291 shares of the exchange traded fund’s stock worth $805,368,000 after buying an additional 1,031,871 shares during the period. Focus Partners Wealth grew its stake in iShares U.S. Technology ETF by 450.1% in the fourth quarter. Focus Partners Wealth now owns 312,367 shares of the exchange traded fund’s stock valued at $62,373,000 after acquiring an additional 255,584 shares during the period. Axxcess Wealth Management LLC acquired a new stake in iShares U.S. Technology ETF in the fourth quarter valued at approximately $41,199,000. Morgan Stanley increased its holdings in shares of iShares U.S. Technology ETF by 3.3% during 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 acquiring an additional 186,297 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of iShares U.S. Technology ETF by 14,772.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 171,187 shares of the exchange traded fund’s stock valued at $29,662,000 after acquiring an additional 170,036 shares in the last quarter. 57.65% of the stock is owned by institutional investors.

iShares U.S. Technology ETF Price Performance

Shares of NYSEARCA:IYW opened at $254.05 on Monday. iShares U.S. Technology ETF has a twelve month low of $172.54 and a twelve month high of $261.01. The stock’s 50 day moving average is $245.57 and its 200-day moving average is $218.78. The firm has a market capitalization of $25.16 billion, a price-to-earnings ratio of 34.95 and a beta of 1.36.

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.