iShares U.S. Tech Independence Focused ETF (BATS:IETC) Hits New 52-Week High – Time to Buy?

iShares U.S. Tech Independence Focused ETF (BATS:IETC) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $110.58 and last traded at $110.58, with a volume of 7990 shares. The stock had previously closed at $109.17.

iShares U.S. Tech Independence Focused ETF Stock Up 3.5%

The business has a 50-day moving average price of $99.60 and a 200-day moving average price of $98.78. The firm has a market capitalization of $828.14 million, a price-to-earnings ratio of 37.47 and a beta of 1.18.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in iShares U.S. Tech Independence Focused ETF by 32.7% in the first quarter. Royal Bank of Canada now owns 5,535 shares of the company’s stock worth $415,000 after acquiring an additional 1,365 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of iShares U.S. Tech Independence Focused ETF during the first quarter worth about $1,089,000. Cetera Investment Advisers increased its holdings in shares of iShares U.S. Tech Independence Focused ETF by 11.1% during the second quarter. Cetera Investment Advisers now owns 3,622 shares of the company’s stock valued at $340,000 after acquiring an additional 361 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of iShares U.S. Tech Independence Focused ETF by 1,012.8% during the second quarter. NewEdge Advisors LLC now owns 6,677 shares of the company’s stock valued at $628,000 after acquiring an additional 6,077 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of iShares U.S. Tech Independence Focused ETF by 0.9% in the 2nd quarter. Raymond James Financial Inc. now owns 85,517 shares of the company’s stock valued at $8,039,000 after purchasing an additional 788 shares during 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.