iShares U.S. Technology ETF (NYSEARCA:IYW) Sees Unusually-High Trading Volume – Still a Buy?

Shares of iShares U.S. Technology ETF (NYSEARCA:IYW) saw unusually-high trading volume on Friday . Approximately 1,393,477 shares traded hands during trading, an increase of 62% from the previous session’s volume of 858,971 shares.The stock last traded at $156.72 and had previously closed at $154.39.

iShares U.S. Technology ETF Stock Up 1.1 %

The firm has a market capitalization of $19.17 billion, a P/E ratio of 38.84 and a beta of 1.43. The business’s 50-day simple moving average is $149.26 and its 200 day simple moving average is $144.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in shares of iShares U.S. Technology ETF by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 11,813,520 shares of the exchange traded fund’s stock worth $1,777,935,000 after buying an additional 371,517 shares during the period. International Assets Investment Management LLC raised its stake in shares of iShares U.S. Technology ETF by 29,435.7% during the third quarter. International Assets Investment Management LLC now owns 3,190,156 shares of the exchange traded fund’s stock valued at $483,691,000 after acquiring an additional 3,179,355 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of iShares U.S. Technology ETF by 2.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,390,175 shares of the exchange traded fund’s stock worth $209,221,000 after purchasing an additional 30,147 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of iShares U.S. Technology ETF by 1.3% in the second quarter. Park Avenue Securities LLC now owns 1,068,282 shares of the exchange traded fund’s stock worth $160,776,000 after purchasing an additional 13,629 shares during the last quarter. Finally, Parker Investment Management LLC increased its holdings in iShares U.S. Technology ETF by 44.6% during the 2nd quarter. Parker Investment Management LLC now owns 1,067,765 shares of the exchange traded fund’s stock valued at $160,699,000 after purchasing an additional 329,161 shares during the period.

About iShares U.S. Technology ETF

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).