Navellier & Associates Inc. Acquires 37,111 Shares of iShares U.S. Technology ETF $IYW

Navellier & Associates Inc. grew its holdings in iShares U.S. Technology ETF (NYSEARCA:IYW) by 791.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 41,802 shares of the exchange traded fund’s stock after acquiring an additional 37,111 shares during the period. Navellier & Associates Inc.’s holdings in iShares U.S. Technology ETF were worth $4,880,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. First Bancorp Inc ME acquired a new stake in shares of iShares U.S. Technology ETF during the 2nd quarter valued at about $255,000. Compass Financial Management LLC acquired a new position in iShares U.S. Technology ETF in the second quarter worth about $248,000. Adirondack Capital Advisors LLC raised its position in iShares U.S. Technology ETF by 24.9% in the second quarter. Adirondack Capital Advisors LLC now owns 1,604 shares of the exchange traded fund’s stock worth $405,000 after purchasing an additional 320 shares in the last quarter. Wealth Group Ltd bought a new position in iShares U.S. Technology ETF during the second quarter worth about $205,000. Finally, Fulcrum Equity Management lifted its stake in iShares U.S. Technology ETF by 23.7% during the second quarter. Fulcrum Equity Management now owns 2,400 shares of the exchange traded fund’s stock worth $605,000 after purchasing an additional 460 shares during the period. Institutional investors and hedge funds own 57.65% of the company’s stock.

iShares U.S. Technology ETF Trading Down 1.0%

NYSEARCA IYW opened at $251.20 on Friday. The stock’s 50 day moving average is $245.94 and its two-hundred day moving average is $224.18. The company has a market capitalization of $24.88 billion, a price-to-earnings ratio of 34.95 and a beta of 1.36. iShares U.S. Technology ETF has a 1-year low of $172.54 and a 1-year high of $261.01.

iShares U.S. Technology ETF Profile

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.