iShares Global Tech ETF (NYSEARCA:IXN) Sets New 12-Month High – Time to Buy?

iShares Global Tech ETF (NYSEARCA:IXN)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $117.51 and last traded at $117.48, with a volume of 20335 shares changing hands. The stock had previously closed at $116.47.

iShares Global Tech ETF Trading Up 0.2%

The company has a 50-day simple moving average of $105.73 and a 200 day simple moving average of $105.89. The company has a market cap of $7.48 billion, a P/E ratio of 34.73 and a beta of 1.26.

Hedge Funds Weigh In On iShares Global Tech ETF

Hedge funds have recently added to or reduced their stakes in the stock. Asempa Wealth Advisors bought a new position in iShares Global Tech ETF in the 4th quarter worth about $852,000. Blue Trust Inc. grew its position in shares of iShares Global Tech ETF by 541.5% during the 4th quarter. Blue Trust Inc. now owns 32,037 shares of the company’s stock worth $3,364,000 after buying an additional 27,043 shares in the last quarter. Montis Financial LLC bought a new position in shares of iShares Global Tech ETF during the 3rd quarter worth $2,023,000. Wedbush Securities Inc. grew its position in shares of iShares Global Tech ETF by 173.4% during the 3rd quarter. Wedbush Securities Inc. now owns 8,393 shares of the company’s stock worth $866,000 after buying an additional 5,323 shares in the last quarter. Finally, Sava Penzisko Drushtvo A.D. Skopje bought a new position in shares of iShares Global Tech ETF during the 3rd quarter worth $31,504,000.

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.