iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Reaches New 52-Week High – Should You Buy?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK)’s share price reached a new 52-week high during trading on Friday. The stock traded as high as $73.53 and last traded at $73.3590, with a volume of 240,740 shares. The stock had previously closed at $71.04.

iShares Cybersecurity and Tech ETF Stock Up 3.9%

The company has a fifty day moving average of $66.47 and a two-hundred day moving average of $59.66. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 26.03 and a beta of 0.80.

Institutional Trading of iShares Cybersecurity and Tech ETF

Hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC increased its position in iShares Cybersecurity and Tech ETF by 534.8% during the 1st quarter. Private Advisor Group LLC now owns 31,291 shares of the company’s stock worth $1,366,000 after purchasing an additional 26,362 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of iShares Cybersecurity and Tech ETF in the 1st quarter valued at approximately $2,084,000. Annex Advisory Services LLC acquired a new stake in shares of iShares Cybersecurity and Tech ETF in the 2nd quarter valued at approximately $28,915,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of iShares Cybersecurity and Tech ETF in the third quarter valued at approximately $1,405,000. Finally, Titleist Asset Management LLC purchased a new stake in shares of iShares Cybersecurity and Tech ETF in the third quarter valued at approximately $1,456,000.

About iShares Cybersecurity and Tech ETF

The iShares Cybersecurity and Tech ETF (IHAK) is an exchange-traded fund that is based on the NYSE FactSet Global Cyber Security index. The fund tracks a market cap-selected and -weighted index of large- and mid-cap companies involved in cyber hardware and software. IHAK was launched on Jun 11, 2019 and is managed by BlackRock.