iShares U.S. Technology ETF (NYSEARCA:IYW) Sets New 12-Month High – Time to Buy?

Shares of iShares U.S. Technology ETF (NYSEARCA:IYW) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $212.17 and last traded at $210.50, with a volume of 185246 shares trading hands. The stock had previously closed at $210.43.

iShares U.S. Technology ETF Price Performance

The business has a 50-day simple moving average of $190.97 and a 200-day simple moving average of $196.66. The firm has a market capitalization of $20.35 billion, a PE ratio of 34.95 and a beta of 1.27.

Institutional Investors Weigh In On iShares U.S. Technology ETF

Several hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of iShares U.S. Technology ETF by 3.3% in the fourth quarter. Morgan Stanley now owns 5,773,004 shares of the exchange traded fund’s stock worth $1,152,754,000 after buying an additional 186,297 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of iShares U.S. Technology ETF by 34.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,033,291 shares of the exchange traded fund’s stock worth $805,368,000 after buying an additional 1,031,871 shares during the period. UBS Group AG raised its holdings in shares of iShares U.S. Technology ETF by 4.0% in the third quarter. UBS Group AG now owns 1,882,618 shares of the exchange traded fund’s stock worth $368,730,000 after buying an additional 72,485 shares during the period. Raymond James Financial Inc. raised its holdings in shares of iShares U.S. Technology ETF by 6.5% in the second quarter. Raymond James Financial Inc. now owns 1,598,623 shares of the exchange traded fund’s stock worth $276,993,000 after buying an additional 97,389 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of iShares U.S. Technology ETF by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 1,156,536 shares of the exchange traded fund’s stock worth $200,481,000 after buying an additional 27,056 shares during the period. 57.65% of the stock is currently owned by hedge funds and other institutional investors.

iShares U.S. Technology ETF Company 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.