iShares U.S. Tech Breakthrough Multisector ETF (NYSEARCA:TECB) Hits New 1-Year High – Should You Buy?

Shares of iShares U.S. Tech Breakthrough Multisector ETF (NYSEARCA:TECB) reached a new 52-week high on Thursday . The company traded as high as $71.80 and last traded at $71.78, with a volume of 2123 shares trading hands. The stock had previously closed at $70.66.

iShares U.S. Tech Breakthrough Multisector ETF Price Performance

The firm has a market cap of $510.85 million, a P/E ratio of 30.82 and a beta of 1.22. The stock’s 50-day simple moving average is $62.03 and its two-hundred day simple moving average is $60.64.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC grew its holdings in shares of iShares U.S. Tech Breakthrough Multisector ETF by 4.4% in the third quarter. Ancora Advisors LLC now owns 22,121 shares of the company’s stock worth $1,335,000 after purchasing an additional 939 shares during the last quarter. Kirtland Hills Capital Management LLC grew its stake in iShares U.S. Tech Breakthrough Multisector ETF by 50.2% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 12,229 shares of the company’s stock worth $745,000 after acquiring an additional 4,089 shares in the last quarter. Fiduciary Alliance LLC grew its stake in iShares U.S. Tech Breakthrough Multisector ETF by 13.5% in the 4th quarter. Fiduciary Alliance LLC now owns 7,245 shares of the company’s stock worth $441,000 after acquiring an additional 860 shares in the last quarter. JPMorgan Chase & Co. grew its stake in iShares U.S. Tech Breakthrough Multisector ETF by 1,765.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,343 shares of the company’s stock worth $81,000 after acquiring an additional 1,271 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in iShares U.S. Tech Breakthrough Multisector ETF in the 4th quarter worth about $49,000.

iShares U.S. Tech Breakthrough Multisector ETF Company Profile

The iShares U.S. Tech Breakthrough Multisector ETF (TECB) is an exchange-traded fund that is based on the NYSE FactSet U.S. Tech Breakthrough index. The fund tracks an index of US equities that could benefit from breakthrough technologies, modified market cap weighted. TECB was launched on Jan 8, 2020 and is managed by BlackRock.