iShares U.S. Technology ETF (NYSEARCA:IYW) Hits New 52-Week High – What’s Next?

by · The Cerbat Gem

iShares U.S. Technology ETF (NYSEARCA:IYW – Get Free Report) hit a new 52-week high during trading on Wednesday. The stock traded as high as $267.06 and last traded at $266.4690, with a volume of 42879 shares. The stock had previously closed at $263.34.

iShares U.S. Technology ETF Stock Up 1.4%

The company has a 50-day moving average price of $250.59 and a two-hundred day moving average price of $234.33. The stock has a market capitalization of $26.79 billion, a P/E ratio of 34.95 and a beta of 1.36.

Hedge Funds Weigh In On iShares U.S. Technology ETF

Several hedge funds have recently bought and sold shares of IYW. JPMorgan Chase & Co. grew its holdings in shares of iShares U.S. Technology ETF by 34.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,033,291 shares of the exchange traded fund’s stock worth $805,368,000 after purchasing an additional 1,031,871 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of iShares U.S. Technology ETF in the second quarter worth approximately $200,579,000. Focus Partners Wealth raised its stake in iShares U.S. Technology ETF by 450.1% in the fourth quarter. Focus Partners Wealth now owns 312,367 shares of the exchange traded fund’s stock valued at $62,373,000 after purchasing an additional 255,584 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in iShares U.S. Technology ETF in the fourth quarter valued at approximately $41,199,000. Finally, Align Financial LLC bought a new stake in iShares U.S. Technology ETF during the fourth quarter valued at approximately $23,923,000. Hedge funds and other institutional investors own 57.65% of the company’s stock.

About iShares U.S. Technology ETF

(Get Free Report)

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.

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