iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Large Increase in Short Interest

by · The Cerbat Gem

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK – Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 72,290 shares, an increase of 449.5% from the April 30th total of 13,156 shares. Based on an average daily volume of 172,953 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.5% of the shares of the stock are short sold.

Institutional Trading of iShares Cybersecurity and Tech ETF

Several institutional investors have recently modified their holdings of IHAK. NewEdge Advisors LLC grew its position in shares of iShares Cybersecurity and Tech ETF by 4.9% in the first quarter. NewEdge Advisors LLC now owns 8,318 shares of the company’s stock valued at $391,000 after purchasing an additional 390 shares during the period. Goldman Sachs Group Inc. boosted its position in iShares Cybersecurity and Tech ETF by 63.4% during the first quarter. Goldman Sachs Group Inc. now owns 52,553 shares of the company’s stock worth $2,469,000 after acquiring an additional 20,390 shares during the last quarter. Jane Street Group LLC acquired a new position in iShares Cybersecurity and Tech ETF during the first quarter worth about $2,255,000. Baird Financial Group Inc. boosted its position in iShares Cybersecurity and Tech ETF by 49.7% during the second quarter. Baird Financial Group Inc. now owns 51,752 shares of the company’s stock worth $2,754,000 after acquiring an additional 17,184 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new position in iShares Cybersecurity and Tech ETF during the second quarter worth about $216,000.

iShares Cybersecurity and Tech ETF Stock Up 3.7%

Shares of NYSEARCA IHAK traded up $2.08 during trading on Friday, hitting $57.78. The company had a trading volume of 96,111 shares, compared to its average volume of 189,268. The stock has a fifty day simple moving average of $48.30 and a two-hundred day simple moving average of $47.73. iShares Cybersecurity and Tech ETF has a fifty-two week low of $40.97 and a fifty-two week high of $57.91. The firm has a market capitalization of $912.92 million, a price-to-earnings ratio of 26.03 and a beta of 0.76.

iShares Cybersecurity and Tech ETF Company Profile

(Get Free Report)

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.

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