iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Hits New 52-Week High – Here’s What Happened

iShares Expanded Tech Sector ETF (NYSEARCA:IGM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $159.63 and last traded at $159.32, with a volume of 31088 shares. The stock had previously closed at $157.19.

iShares Expanded Tech Sector ETF Stock Up 2.1%

The company has a market cap of $10.71 billion, a P/E ratio of 34.08 and a beta of 1.36. The firm has a 50 day moving average of $136.09 and a 200-day moving average of $131.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in iShares Expanded Tech Sector ETF by 101.6% in the third quarter. Bank of America Corp DE now owns 5,280,818 shares of the exchange traded fund’s stock worth $665,119,000 after purchasing an additional 2,660,957 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in iShares Expanded Tech Sector ETF by 843.3% in the third quarter. Envestnet Asset Management Inc. now owns 3,363,724 shares of the exchange traded fund’s stock worth $423,661,000 after purchasing an additional 3,007,140 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in iShares Expanded Tech Sector ETF by 393.9% during the third quarter. Raymond James Financial Inc. now owns 2,879,177 shares of the exchange traded fund’s stock worth $362,632,000 after buying an additional 2,296,259 shares during the period. JPMorgan Chase & Co. lifted its holdings in iShares Expanded Tech Sector ETF by 173.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,548,418 shares of the exchange traded fund’s stock worth $329,154,000 after buying an additional 1,617,877 shares during the period. Finally, Bank of Montreal Can lifted its holdings in iShares Expanded Tech Sector ETF by 35.6% during the third quarter. Bank of Montreal Can now owns 2,073,372 shares of the exchange traded fund’s stock worth $261,141,000 after buying an additional 544,007 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.