iShares Global Tech ETF (NYSEARCA:IXN) Sets New 52-Week High – Time to Buy?

iShares Global Tech ETF (NYSEARCA:IXN) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $106.37 and last traded at $105.92, with a volume of 118134 shares trading hands. The stock had previously closed at $104.82.

iShares Global Tech ETF Stock Performance

The business has a 50 day simple moving average of $98.28 and a two-hundred day simple moving average of $88.58. The firm has a market capitalization of $6.46 billion, a P/E ratio of 34.73 and a beta of 1.15.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IXN. Raleigh Capital Management Inc. lifted its stake in iShares Global Tech ETF by 160.2% during the second quarter. Raleigh Capital Management Inc. now owns 281 shares of the company’s stock worth $26,000 after purchasing an additional 173 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in iShares Global Tech ETF in the 2nd quarter worth approximately $30,000. Richards Merrill & Peterson Inc. bought a new stake in iShares Global Tech ETF in the 1st quarter worth approximately $34,000. Tradewinds Capital Management LLC purchased a new stake in iShares Global Tech ETF in the first quarter worth approximately $36,000. Finally, Harbor Asset Planning Inc. bought a new position in iShares Global Tech ETF during the second quarter valued at approximately $40,000.

About iShares Global Tech ETF

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.