iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Reaches New 52-Week High – Still a Buy?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $52.00 and last traded at $51.96, with a volume of 21189 shares traded. The stock had previously closed at $50.90.

iShares Cybersecurity and Tech ETF Trading Up 2.2 %

The business’s fifty day simple moving average is $49.68 and its 200 day simple moving average is $47.39. The stock has a market cap of $936.36 million, a P/E ratio of 36.33 and a beta of 1.17.

Hedge Funds Weigh In On iShares Cybersecurity and Tech ETF

A number of institutional investors have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC raised its stake in iShares Cybersecurity and Tech ETF by 115.2% during the second quarter. GPS Wealth Strategies Group LLC now owns 4,407 shares of the company’s stock worth $202,000 after acquiring an additional 2,359 shares in the last quarter. Petra Financial Advisors Inc. grew its holdings in shares of iShares Cybersecurity and Tech ETF by 22.2% during the second quarter. Petra Financial Advisors Inc. now owns 6,580 shares of the company’s stock valued at $302,000 after buying an additional 1,196 shares during the last quarter. First Horizon Advisors Inc. bought a new position in shares of iShares Cybersecurity and Tech ETF in the second quarter valued at approximately $40,000. Crescent Grove Advisors LLC lifted its position in shares of iShares Cybersecurity and Tech ETF by 3.0% during the second quarter. Crescent Grove Advisors LLC now owns 32,134 shares of the company’s stock valued at $1,477,000 after purchasing an additional 927 shares in the last quarter. Finally, Crosspoint Financial LLC boosted its stake in shares of iShares Cybersecurity and Tech ETF by 11.3% in the 2nd quarter. Crosspoint Financial LLC now owns 48,430 shares of the company’s stock worth $2,225,000 after buying an additional 4,908 shares during the last quarter.

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.