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

iShares U.S. Tech Breakthrough Multisector ETF (NYSEARCA:TECB) hit a new 52-week high during trading on Friday . The company traded as high as $70.71 and last traded at $70.71, with a volume of 1585 shares. The stock had previously closed at $69.56.

iShares U.S. Tech Breakthrough Multisector ETF Stock Up 1.4%

The firm has a market capitalization of $500.62 million, a PE ratio of 30.82 and a beta of 1.22. The business’s fifty day moving average price is $61.19 and its 200 day moving average price is $60.47.

Institutional Investors Weigh In On iShares U.S. Tech Breakthrough Multisector ETF

A number of hedge funds and other institutional investors have recently modified their holdings of TECB. JPMorgan Chase & Co. grew its holdings in shares of iShares U.S. Tech Breakthrough Multisector ETF by 1,765.3% during the third quarter. JPMorgan Chase & Co. now owns 1,343 shares of the company’s stock worth $81,000 after buying an additional 1,271 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of iShares U.S. Tech Breakthrough Multisector ETF by 4.4% during the third quarter. Ancora Advisors LLC now owns 22,121 shares of the company’s stock worth $1,335,000 after buying an additional 939 shares in the last quarter. Fiduciary Alliance LLC grew its holdings in shares of iShares U.S. Tech Breakthrough Multisector ETF by 13.5% during the fourth quarter. Fiduciary Alliance LLC now owns 7,245 shares of the company’s stock worth $441,000 after buying an additional 860 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of iShares U.S. Tech Breakthrough Multisector ETF in the fourth quarter worth approximately $49,000. Finally, Kirtland Hills Capital Management LLC boosted its position in shares of iShares U.S. Tech Breakthrough Multisector ETF by 50.2% in the fourth 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 during the last quarter.

About iShares U.S. Tech Breakthrough Multisector ETF

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.