iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sets New 12-Month High – Here’s Why

iShares Expanded Tech Sector ETF (NYSEARCA:IGM)’s stock price hit a new 52-week high during trading on Friday. The company traded as high as $172.75 and last traded at $172.8310, with a volume of 20479 shares changing hands. The stock had previously closed at $170.24.

iShares Expanded Tech Sector ETF Trading Up 1.5%

The stock has a fifty day simple moving average of $161.39 and a two-hundred day simple moving average of $152.36. The company has a market cap of $11.69 billion, a PE ratio of 34.08 and a beta of 1.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Assetmark Inc. lifted its position in iShares Expanded Tech Sector ETF by 16.9% during the first quarter. Assetmark Inc. now owns 123,203 shares of the exchange traded fund’s stock valued at $14,601,000 after buying an additional 17,786 shares in the last quarter. Integrity Investment Advisors LLC raised its position in iShares Expanded Tech Sector ETF by 7.0% in the first quarter. Integrity Investment Advisors LLC now owns 59,956 shares of the exchange traded fund’s stock valued at $7,105,000 after purchasing an additional 3,936 shares during the period. Fifth Third Bancorp raised its position in iShares Expanded Tech Sector ETF by 409.8% in the first quarter. Fifth Third Bancorp now owns 27,262 shares of the exchange traded fund’s stock valued at $3,231,000 after purchasing an additional 21,914 shares during the period. Kane Investment Management Inc. lifted its stake in shares of iShares Expanded Tech Sector ETF by 136.4% during the fourth quarter. Kane Investment Management Inc. now owns 6,455 shares of the exchange traded fund’s stock worth $834,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in shares of iShares Expanded Tech Sector ETF by 18.6% in the second quarter. Concurrent Investment Advisors LLC now owns 59,498 shares of the exchange traded fund’s stock worth $9,733,000 after buying an additional 9,335 shares during the period.

iShares Expanded Tech Sector ETF Company Profile

iShares North American Tech ETF, formerly iShares S&P North American Technology Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, of the United States-traded technology companies, as represented by the S&P North American Technology Sector Index (the Index). The Index has been developed as an equity benchmark for the United States-traded, technology-related stocks. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Index.