iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) Shares Down 5.4% – Here’s What Happened

iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) dropped 5.4% during mid-day trading on Thursday . The company traded as low as $24.72 and last traded at $24.86. Approximately 12,878 shares were traded during trading, a decline of 39% from the average daily volume of 21,264 shares. The stock had previously closed at $26.29.

iShares MSCI China Multisector Tech ETF Price Performance

The company has a 50-day simple moving average of $25.01 and a 200-day simple moving average of $23.96. The stock has a market cap of $47.23 million, a PE ratio of 17.30 and a beta of 0.61.

iShares MSCI China Multisector Tech ETF Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were given a $0.0789 dividend. The ex-dividend date was Monday, June 15th.

Hedge Funds Weigh In On iShares MSCI China Multisector Tech ETF

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new position in shares of iShares MSCI China Multisector Tech ETF during the 4th quarter valued at about $32,000. Osaic Holdings Inc. boosted its position in shares of iShares MSCI China Multisector Tech ETF by 10,956.2% in the second quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock worth $35,000 after acquiring an additional 1,753 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of iShares MSCI China Multisector Tech ETF in the fourth quarter worth approximately $152,000. GWN Securities Inc. purchased a new stake in iShares MSCI China Multisector Tech ETF in the fourth quarter valued at approximately $278,000. Finally, Jane Street Group LLC purchased a new stake in iShares MSCI China Multisector Tech ETF in the second quarter valued at approximately $328,000.

About iShares MSCI China Multisector Tech ETF

The iShares MSCI China Multisector Tech ETF (TCHI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market cap-weighted index of large- and mid-cap Chinese equities in technology and technology-related industries. TCHI was launched on Jan 25, 2022 and is managed by BlackRock.