iShares U.S. Technology ETF (NYSEARCA:IYW) Sets New 52-Week High – Here’s Why

iShares U.S. Technology ETF (NYSEARCA:IYW) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $166.83 and last traded at $166.00, with a volume of 41799 shares traded. The stock had previously closed at $166.22.

iShares U.S. Technology ETF Stock Down 0.3 %

The company has a market capitalization of $20.37 billion, a P/E ratio of 38.84 and a beta of 1.43. The business has a 50 day simple moving average of $161.42 and a 200-day simple moving average of $153.68.

Institutional Investors Weigh In On iShares U.S. Technology ETF

Hedge funds have recently added to or reduced their stakes in the stock. Magnus Financial Group LLC raised its stake in shares of iShares U.S. Technology ETF by 0.6% during the third quarter. Magnus Financial Group LLC now owns 11,845 shares of the exchange traded fund’s stock valued at $1,796,000 after purchasing an additional 67 shares in the last quarter. Marino Stram & Associates LLC raised its stake in shares of iShares U.S. Technology ETF by 3.7% during the third quarter. Marino Stram & Associates LLC now owns 1,902 shares of the exchange traded fund’s stock valued at $288,000 after purchasing an additional 67 shares in the last quarter. Investment Advisory Group LLC raised its stake in shares of iShares U.S. Technology ETF by 1.0% during the third quarter. Investment Advisory Group LLC now owns 7,583 shares of the exchange traded fund’s stock valued at $1,150,000 after purchasing an additional 73 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of iShares U.S. Technology ETF by 1.9% during the third quarter. Great Valley Advisor Group Inc. now owns 3,963 shares of the exchange traded fund’s stock valued at $600,000 after purchasing an additional 73 shares in the last quarter. Finally, XML Financial LLC raised its stake in shares of iShares U.S. Technology ETF by 1.7% during the fourth quarter. XML Financial LLC now owns 4,396 shares of the exchange traded fund’s stock valued at $701,000 after purchasing an additional 73 shares in the last quarter.

iShares U.S. Technology ETF Company Profile

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).