iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Significant Growth in Short Interest

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) was the target of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 105,616 shares, an increase of 543.1% from the October 15th total of 16,422 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 335,638 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On iShares Cybersecurity and Tech ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in iShares Cybersecurity and Tech ETF by 6.4% during the 3rd quarter. Private Advisor Group LLC now owns 34,147 shares of the company’s stock valued at $2,309,000 after purchasing an additional 2,062 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of iShares Cybersecurity and Tech ETF during the third quarter worth about $576,000. Global Retirement Partners LLC acquired a new stake in shares of iShares Cybersecurity and Tech ETF during the third quarter worth about $738,000. HighTower Advisors LLC acquired a new stake in shares of iShares Cybersecurity and Tech ETF during the third quarter worth about $870,000. Finally, Wharton Business Group LLC purchased a new stake in iShares Cybersecurity and Tech ETF in the third quarter valued at approximately $15,433,000.

iShares Cybersecurity and Tech ETF Trading Down 1.3%

Shares of NYSEARCA:IHAK traded down $0.89 on Thursday, hitting $68.34. 229,957 shares of the company were exchanged, compared to its average volume of 195,243. iShares Cybersecurity and Tech ETF has a 1-year low of $40.97 and a 1-year high of $77.73. The stock’s 50 day moving average price is $68.70 and its 200 day moving average price is $57.03. The firm has a market capitalization of $1.18 billion, a P/E ratio of 31.88 and a beta of 0.77.

iShares Cybersecurity and Tech ETF Company Profile

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.