iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Hits New 12-Month High – Here’s Why

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $53.98 and last traded at $53.59, with a volume of 39414 shares trading hands. The stock had previously closed at $53.61.

iShares Cybersecurity and Tech ETF Trading Down 0.2%

The firm has a market capitalization of $844.98 million, a P/E ratio of 26.03 and a beta of 0.76. The business has a 50-day moving average of $46.37 and a 200 day moving average of $47.42.

Hedge Funds Weigh In On iShares Cybersecurity and Tech ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its stake in shares of iShares Cybersecurity and Tech ETF by 4.9% in the 1st quarter. NewEdge Advisors LLC now owns 8,318 shares of the company’s stock worth $391,000 after buying an additional 390 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of iShares Cybersecurity and Tech ETF by 63.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 52,553 shares of the company’s stock worth $2,469,000 after buying an additional 20,390 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of iShares Cybersecurity and Tech ETF in the 1st quarter worth approximately $2,255,000. Baird Financial Group Inc. boosted its stake in shares of iShares Cybersecurity and Tech ETF by 49.7% in the 2nd quarter. Baird Financial Group Inc. now owns 51,752 shares of the company’s stock worth $2,754,000 after buying an additional 17,184 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of iShares Cybersecurity and Tech ETF in the 2nd quarter worth approximately $216,000.

iShares Cybersecurity and Tech ETF Company Profile

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.