iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Unusually-High Trading Volume – Here’s Why

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) saw unusually-strong trading volume on Tuesday . Approximately 52,452 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 84,326 shares.The stock last traded at $50.38 and had previously closed at $50.72.

iShares Cybersecurity and Tech ETF Stock Down 3.9 %

The company’s 50 day moving average price is $50.22 and its two-hundred day moving average price is $47.81. The firm has a market cap of $872.64 million, a PE ratio of 36.33 and a beta of 1.17.

Institutional Trading of iShares Cybersecurity and Tech ETF

Several institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new stake in shares of iShares Cybersecurity and Tech ETF during the second quarter worth $40,000. Crosspoint Financial LLC boosted its position in 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 valued at $2,225,000 after buying an additional 4,908 shares during the period. Arkadios Wealth Advisors bought a new position in iShares Cybersecurity and Tech ETF in the 2nd quarter worth about $377,000. International Assets Investment Management LLC purchased a new position in shares of iShares Cybersecurity and Tech ETF during the second quarter worth approximately $192,000. Finally, IFG Advisory LLC bought a new stake in shares of iShares Cybersecurity and Tech ETF during the second quarter valued at approximately $256,000.

About iShares Cybersecurity and Tech ETF

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.