iShares U.S. Technology ETF (NYSEARCA:IYW) Sets New 12-Month High – Should You Buy?

iShares U.S. Technology ETF (NYSEARCA:IYW) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $222.00 and last traded at $221.39, with a volume of 45614 shares trading hands. The stock had previously closed at $221.01.

iShares U.S. Technology ETF Price Performance

The business has a 50 day moving average of $195.27 and a 200 day moving average of $197.84. The company has a market cap of $22.15 billion, a PE ratio of 34.95 and a beta of 1.33.

Institutional Investors Weigh In On iShares U.S. Technology ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in iShares U.S. Technology ETF by 34.4% in the fourth 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 raised its position in shares of iShares U.S. Technology ETF by 450.1% in the 4th quarter. Focus Partners Wealth now owns 312,367 shares of the exchange traded fund’s stock worth $62,373,000 after acquiring an additional 255,584 shares in the last quarter. Sagespring Wealth Partners LLC raised its position in shares of iShares U.S. Technology ETF by 41.1% in the 3rd quarter. Sagespring Wealth Partners LLC now owns 737,156 shares of the exchange traded fund’s stock worth $144,379,000 after acquiring an additional 214,654 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of iShares U.S. Technology ETF in the 4th quarter valued at approximately $41,199,000. Finally, Morgan Stanley boosted its position 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 purchasing an additional 186,297 shares in the last quarter. 57.65% of the stock is owned by hedge funds and other institutional investors.

iShares U.S. Technology ETF Company Profile

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.