iShares Global Tech ETF (NYSEARCA:IXN) Hits New 1-Year High – Should You Buy?

iShares Global Tech ETF (NYSEARCA:IXN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $140.79 and last traded at $139.34, with a volume of 232334 shares changing hands. The stock had previously closed at $139.70.

iShares Global Tech ETF Stock Performance

The company has a market capitalization of $9.06 billion, a P/E ratio of 34.73 and a beta of 1.32. The firm’s fifty day moving average is $116.87 and its 200 day moving average is $109.71.

Institutional Investors Weigh In On iShares Global Tech ETF

Several large investors have recently added to or reduced their stakes in IXN. Pictet Asset Management Holding SA boosted its position 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in iShares Global Tech ETF by 14,762.6% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 326,382 shares of the company’s stock valued at $30,138,000 after buying an additional 324,186 shares during the period. Sava Penzisko Drushtvo A.D. Skopje purchased a new stake in iShares Global Tech ETF in the 3rd quarter valued at about $31,504,000. Bank of America Corp DE boosted its position in iShares Global Tech ETF by 8.7% in the 2nd quarter. Bank of America Corp DE now owns 2,398,815 shares of the company’s stock valued at $221,507,000 after buying an additional 191,600 shares during the period. Finally, HighTower Advisors LLC boosted its position in iShares Global Tech ETF by 229.0% in the 4th quarter. HighTower Advisors LLC now owns 224,535 shares of the company’s stock valued at $23,576,000 after buying an additional 156,283 shares during the period.

iShares Global Tech ETF Company Profile

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.