Short Interest in iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Drops By 61.4%

iShares Expanded Tech Sector ETF (NYSEARCA:IGM) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 91,313 shares, a decrease of 61.4% from the June 15th total of 236,631 shares. Based on an average daily volume of 534,701 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

iShares Expanded Tech Sector ETF Stock Performance

NYSEARCA:IGM traded down $0.78 on Wednesday, hitting $159.28. The stock had a trading volume of 209,995 shares, compared to its average volume of 699,347. iShares Expanded Tech Sector ETF has a 1 year low of $112.14 and a 1 year high of $171.48. The firm’s fifty day simple moving average is $159.04 and its two-hundred day simple moving average is $139.02. The stock has a market cap of $10.42 billion, a P/E ratio of 34.08 and a beta of 1.39.

Institutional Trading of iShares Expanded Tech Sector ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its position in shares of iShares Expanded Tech Sector ETF by 101.6% during the 3rd quarter. Bank of America Corp DE now owns 5,280,818 shares of the exchange traded fund’s stock valued at $665,119,000 after purchasing an additional 2,660,957 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of iShares Expanded Tech Sector ETF by 393.9% in the 3rd 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 last quarter. JPMorgan Chase & Co. grew its position 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 valued at $329,154,000 after buying an additional 1,617,877 shares during the period. Ameriprise Financial Inc. grew its position in iShares Expanded Tech Sector ETF by 12.7% during the third quarter. Ameriprise Financial Inc. now owns 777,520 shares of the exchange traded fund’s stock valued at $97,856,000 after buying an additional 87,324 shares during the period. Finally, Wells Fargo & Company MN grew its position in iShares Expanded Tech Sector ETF by 11.8% during the fourth quarter. Wells Fargo & Company MN now owns 424,377 shares of the exchange traded fund’s stock valued at $54,813,000 after buying an additional 44,765 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.