iShares Global Tech ETF (NYSEARCA:IXN) Sets New 1-Year High – What’s Next?

iShares Global Tech ETF (NYSEARCA:IXN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $106.37 and last traded at $105.92, with a volume of 118134 shares changing hands. The stock had previously closed at $104.82.

iShares Global Tech ETF Stock Performance

The company has a market cap of $6.46 billion, a price-to-earnings ratio of 34.73 and a beta of 1.15. The stock’s fifty day moving average is $98.28 and its two-hundred day moving average is $88.58.

Institutional Investors Weigh In On iShares Global Tech ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in iShares Global Tech ETF by 16.7% in the fourth quarter. Brighton Jones LLC now owns 4,390 shares of the company’s stock worth $372,000 after acquiring an additional 627 shares during the period. Financial Perspectives Inc increased its stake in shares of iShares Global Tech ETF by 34.1% during the 1st quarter. Financial Perspectives Inc now owns 2,500 shares of the company’s stock worth $189,000 after purchasing an additional 636 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of iShares Global Tech ETF by 76.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 7,745 shares of the company’s stock worth $591,000 after purchasing an additional 3,355 shares during the period. Johnson Investment Counsel Inc. lifted its stake in iShares Global Tech ETF by 0.4% in the first quarter. Johnson Investment Counsel Inc. now owns 109,400 shares of the company’s stock valued at $8,286,000 after purchasing an additional 386 shares during the last quarter. Finally, Balance Wealth LLC bought a new position in iShares Global Tech ETF during the first quarter valued at $1,056,000.

About iShares Global Tech ETF

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.