iShares Global Tech ETF (NYSEARCA:IXN) Hits New 1-Year High – What’s Next?

iShares Global Tech ETF (NYSEARCA:IXN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $88.52 and last traded at $88.12, with a volume of 8750 shares traded. The stock had previously closed at $87.75.

iShares Global Tech ETF Stock Performance

The business has a fifty day simple moving average of $85.67 and a 200-day simple moving average of $83.15. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 37.10 and a beta of 1.13.

Hedge Funds Weigh In On iShares Global Tech ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of iShares Global Tech ETF by 10.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,011,498 shares of the company’s stock valued at $85,724,000 after buying an additional 94,145 shares during the period. FIL Ltd increased its stake in shares of iShares Global Tech ETF by 6.4% in the fourth quarter. FIL Ltd now owns 802,955 shares of the company’s stock valued at $68,323,000 after buying an additional 48,385 shares during the period. Wealthfront Advisers LLC increased its stake in shares of iShares Global Tech ETF by 1,258.0% in the fourth quarter. Wealthfront Advisers LLC now owns 786,089 shares of the company’s stock valued at $66,621,000 after buying an additional 728,205 shares during the period. Patten & Patten Inc. TN increased its stake in shares of iShares Global Tech ETF by 0.9% in the fourth quarter. Patten & Patten Inc. TN now owns 469,909 shares of the company’s stock valued at $39,825,000 after buying an additional 4,405 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of iShares Global Tech ETF by 1.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 464,811 shares of the company’s stock valued at $39,393,000 after buying an additional 7,190 shares during the period.

iShares Global Tech ETF Company Profile

iShares Global Tech ETF (the Fund), formerly iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Information Technology Sector Index (the Index). The Index measures the performance of companies that Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies (S&P) deems to be part of the information technology sector of the economy.