iShares Global Tech ETF (NYSEARCA:IXN) Reaches New 12-Month High – Should You Buy?

iShares Global Tech ETF (NYSEARCA:IXN) shares hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $150.16 and last traded at $149.6390, with a volume of 280605 shares trading hands. The stock had previously closed at $148.22.

iShares Global Tech ETF Trading Up 1.4%

The business has a 50 day moving average of $141.23 and a 200-day moving average of $132.03. The firm has a market capitalization of $9.99 billion, a P/E ratio of 34.73 and a beta of 1.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pictet Asset Management Holding SA raised its holdings in shares of iShares Global Tech ETF by 64.2% during the first quarter. Pictet Asset Management Holding SA now owns 1,152,840 shares of the company’s stock worth $110,396,000 after acquiring an additional 450,580 shares during the period. Envestnet Asset Management Inc. boosted its stake in iShares Global Tech ETF by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 210,313 shares of the company’s stock worth $30,386,000 after purchasing an additional 2,051 shares during the period. Parallel Advisors LLC boosted its stake in iShares Global Tech ETF by 1.4% in the 4th quarter. Parallel Advisors LLC now owns 286,164 shares of the company’s stock worth $30,047,000 after purchasing an additional 3,990 shares during the period. Cetera Investment Advisers increased its holdings in iShares Global Tech ETF by 0.7% during the 1st quarter. Cetera Investment Advisers now owns 169,052 shares of the company’s stock worth $16,900,000 after purchasing an additional 1,109 shares in the last quarter. Finally, NFSG Corp lifted its holdings in shares of iShares Global Tech ETF by 2.7% in the first quarter. NFSG Corp now owns 101,862 shares of the company’s stock valued at $10,183,000 after purchasing an additional 2,709 shares in the last quarter.

About iShares Global Tech ETF

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.