iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sets New 52-Week Low – Should You Sell?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $41.81 and last traded at $41.8770, with a volume of 86145 shares trading hands. The stock had previously closed at $43.27.

iShares Cybersecurity and Tech ETF Trading Down 4.2%

The firm has a market cap of $692.11 million, a PE ratio of 26.03 and a beta of 0.83. The firm has a fifty day simple moving average of $47.52 and a two-hundred day simple moving average of $49.87.

Institutional Investors Weigh In On iShares Cybersecurity and Tech ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of iShares Cybersecurity and Tech ETF by 4.9% during the first quarter. NewEdge Advisors LLC now owns 8,318 shares of the company’s stock valued at $391,000 after buying an additional 390 shares during the period. Goldman Sachs Group Inc. boosted its position in iShares Cybersecurity and Tech ETF by 63.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 52,553 shares of the company’s stock valued at $2,469,000 after acquiring an additional 20,390 shares in the last quarter. Jane Street Group LLC bought a new stake in iShares Cybersecurity and Tech ETF during the 1st quarter valued at approximately $2,255,000. Envestnet Asset Management Inc. raised its position in shares of iShares Cybersecurity and Tech ETF by 51.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,075 shares of the company’s stock worth $483,000 after acquiring an additional 3,084 shares in the last quarter. Finally, GWN Securities Inc. bought a new position in shares of iShares Cybersecurity and Tech ETF in the 2nd quarter worth approximately $213,000.

About iShares Cybersecurity and Tech ETF

The iShares Cybersecurity and Tech ETF (IHAK) is an exchange-traded fund that is based on the NYSE FactSet Global Cyber Security index. The fund tracks a market cap-selected and -weighted index of large- and mid-cap companies involved in cyber hardware and software. IHAK was launched on Jun 11, 2019 and is managed by BlackRock.