iShares Global Tech ETF (NYSEARCA:IXN) Sees Strong Trading Volume – Still a Buy?

Shares of iShares Global Tech ETF (NYSEARCA:IXN) saw strong trading volume on Thursday . 900,430 shares were traded during trading, an increase of 106% from the previous session’s volume of 436,551 shares.The stock last traded at $108.0930 and had previously closed at $106.33.

iShares Global Tech ETF Stock Up 1.7%

The stock’s fifty day moving average price is $105.23 and its 200-day moving average price is $101.41. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 34.73 and a beta of 1.24.

Hedge Funds Weigh In On iShares Global Tech ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raleigh Capital Management Inc. lifted its holdings in iShares Global Tech ETF by 160.2% during the 2nd quarter. Raleigh Capital Management Inc. now owns 281 shares of the company’s stock valued at $26,000 after purchasing an additional 173 shares during the last quarter. Larson Financial Group LLC bought a new stake in iShares Global Tech ETF in the 3rd quarter valued at $28,000. SOA Wealth Advisors LLC. acquired a new position in iShares Global Tech ETF in the 2nd quarter valued at $30,000. West Branch Capital LLC bought a new position in iShares Global Tech ETF during the 3rd quarter worth $36,000. Finally, Manning & Napier Advisors LLC bought a new position in iShares Global Tech ETF during the 3rd quarter worth $39,000.

iShares Global Tech ETF Company Profile

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.