iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Hits New 1-Year High – Still a Buy?

iShares Expanded Tech Sector ETF (NYSEARCA:IGM) hit a new 52-week high on Tuesday . The stock traded as high as $102.38 and last traded at $102.32, with a volume of 12614 shares changing hands. The stock had previously closed at $101.86.

iShares Expanded Tech Sector ETF Trading Down 0.4 %

The stock’s 50-day moving average price is $95.80 and its 200-day moving average price is $92.64. The company has a market cap of $5.13 billion, a P/E ratio of 7.11 and a beta of 1.53.

Institutional Investors Weigh In On iShares Expanded Tech Sector ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its holdings in shares of iShares Expanded Tech Sector ETF by 418.6% during the first quarter. Oppenheimer & Co. Inc. now owns 3,516 shares of the exchange traded fund’s stock valued at $303,000 after buying an additional 2,838 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in iShares Expanded Tech Sector ETF by 533.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,448 shares of the exchange traded fund’s stock valued at $297,000 after acquiring an additional 2,904 shares in the last quarter. US Bancorp DE boosted its stake in iShares Expanded Tech Sector ETF by 477.1% during the 1st quarter. US Bancorp DE now owns 8,484 shares of the exchange traded fund’s stock valued at $731,000 after purchasing an additional 7,014 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in iShares Expanded Tech Sector ETF by 477.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 16,324 shares of the exchange traded fund’s stock worth $1,407,000 after purchasing an additional 13,495 shares in the last quarter. Finally, GM Advisory Group LLC raised its stake in shares of iShares Expanded Tech Sector ETF by 537.6% in the first quarter. GM Advisory Group LLC now owns 287,719 shares of the exchange traded fund’s stock worth $24,796,000 after purchasing an additional 242,597 shares during the last quarter.

About iShares Expanded Tech Sector ETF

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).