iShares Global Tech ETF (NYSEARCA:IXN) Reaches New 52-Week High – Here’s Why

Shares of iShares Global Tech ETF (NYSEARCA:IXN) reached a new 52-week high during trading on Friday . The company traded as high as $136.17 and last traded at $135.39, with a volume of 36619 shares. The stock had previously closed at $134.51.

iShares Global Tech ETF Trading Up 1.1%

The company has a market capitalization of $8.84 billion, a PE ratio of 34.73 and a beta of 1.32. The firm’s 50-day simple moving average is $114.23 and its 200-day simple moving average is $108.89.

Institutional Investors Weigh In On iShares Global Tech ETF

Several large investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its position in iShares Global Tech ETF by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 3,053,228 shares of the company’s stock valued at $320,589,000 after buying an additional 57,560 shares during the period. Bank of America Corp DE boosted its position in iShares Global Tech ETF by 0.8% in the 3rd quarter. Bank of America Corp DE now owns 2,418,337 shares of the company’s stock valued at $249,597,000 after buying an additional 19,522 shares during the period. Pictet Asset Management Holding SA boosted its position in iShares Global Tech ETF by 64.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,152,840 shares of the company’s stock valued at $110,396,000 after buying an additional 450,580 shares during the period. LPL Financial LLC boosted its position in iShares Global Tech ETF by 4.8% in the 4th quarter. LPL Financial LLC now owns 954,811 shares of the company’s stock valued at $100,255,000 after buying an additional 43,586 shares during the period. Finally, Royal Bank of Canada boosted its position in iShares Global Tech ETF by 10.8% in the 4th quarter. Royal Bank of Canada now owns 944,545 shares of the company’s stock valued at $99,177,000 after buying an additional 92,222 shares during the period.

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.