iShares Global Tech ETF (NYSEARCA:IXN) Sees Large Volume Increase – Here’s What Happened

iShares Global Tech ETF (NYSEARCA:IXN) shares saw unusually-strong trading volume on Wednesday . Approximately 290,753 shares traded hands during trading, a decline of 21% from the previous session’s volume of 369,817 shares.The stock last traded at $136.08 and had previously closed at $135.86.

iShares Global Tech ETF Price Performance

The business’s 50 day simple moving average is $137.46 and its 200 day simple moving average is $117.67. The company has a market capitalization of $9.20 billion, a PE ratio of 34.73 and a beta of 1.36.

Institutional Investors Weigh In On iShares Global Tech ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in shares of iShares Global Tech ETF by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 3,053,228 shares of the company’s stock valued at $320,589,000 after purchasing an additional 57,560 shares during the last quarter. Bank of America Corp DE increased its position in shares of iShares Global Tech ETF by 0.8% during the 3rd quarter. Bank of America Corp DE now owns 2,418,337 shares of the company’s stock worth $249,597,000 after purchasing an additional 19,522 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in iShares Global Tech ETF by 64.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,152,840 shares of the company’s stock valued at $110,396,000 after buying an additional 450,580 shares during the period. LPL Financial LLC raised its holdings in iShares Global Tech ETF by 4.8% in the 4th quarter. LPL Financial LLC now owns 954,811 shares of the company’s stock valued at $100,255,000 after buying an additional 43,586 shares during the period. Finally, Royal Bank of Canada lifted its position in iShares Global Tech ETF by 10.8% in the fourth quarter. Royal Bank of Canada now owns 944,545 shares of the company’s stock valued at $99,177,000 after buying an additional 92,222 shares during the last quarter.

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.