iShares Global Tech ETF (NYSEARCA:IXN) Sees Unusually-High Trading Volume – Should You Buy?

iShares Global Tech ETF (NYSEARCA:IXN) saw an uptick in trading volume on Monday . 932,683 shares changed hands during trading, an increase of 146% from the previous session’s volume of 379,351 shares.The stock last traded at $131.64 and had previously closed at $132.68.

iShares Global Tech ETF Stock Performance

The stock has a fifty day moving average of $138.74 and a 200 day moving average of $120.84. The company has a market capitalization of $8.40 billion, a PE ratio of 34.73 and a beta of 1.36.

Hedge Funds Weigh In On iShares Global Tech ETF

Hedge funds have recently modified their holdings of the stock. Goodman Advisory Group LLC bought a new stake in iShares Global Tech ETF in the 1st quarter valued at $534,000. Patten & Patten Inc. TN boosted its holdings in shares of iShares Global Tech ETF by 2.9% during the 4th quarter. Patten & Patten Inc. TN now owns 545,249 shares of the company’s stock valued at $57,251,000 after purchasing an additional 15,285 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of iShares Global Tech ETF by 3.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 195,520 shares of the company’s stock valued at $20,549,000 after purchasing an additional 6,544 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of iShares Global Tech ETF by 700.6% during the fourth quarter. Farther Finance Advisors LLC now owns 16,204 shares of the company’s stock valued at $1,701,000 after purchasing an additional 14,180 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of iShares Global Tech ETF by 10.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 99,153 shares of the company’s stock worth $10,411,000 after purchasing an additional 9,677 shares during the last quarter.

iShares Global Tech ETF Company Profile

iShares Global Tech ETF (the Fund), formerly iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Information Technology Sector Index (the Index). The Index measures the performance of companies that Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies (S&P) deems to be part of the information technology sector of the economy.