iShares U.S. Tech Independence Focused ETF (BATS:IETC) Sees Significant Growth in Short Interest

iShares U.S. Tech Independence Focused ETF (BATS:IETC) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 37,703 shares, an increase of 303.2% from the May 31st total of 9,352 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 81,178 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IETC. Royal Bank of Canada boosted its holdings in shares of iShares U.S. Tech Independence Focused ETF by 32.7% in the 1st quarter. Royal Bank of Canada now owns 5,535 shares of the company’s stock valued at $415,000 after buying an additional 1,365 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in iShares U.S. Tech Independence Focused ETF in the first quarter valued at $1,089,000. Cetera Investment Advisers lifted its stake in iShares U.S. Tech Independence Focused ETF by 11.1% in the second quarter. Cetera Investment Advisers now owns 3,622 shares of the company’s stock valued at $340,000 after acquiring an additional 361 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of iShares U.S. Tech Independence Focused ETF by 1,012.8% in the 2nd quarter. NewEdge Advisors LLC now owns 6,677 shares of the company’s stock valued at $628,000 after acquiring an additional 6,077 shares during the period. Finally, Raymond James Financial Inc. grew its position in shares of iShares U.S. Tech Independence Focused ETF by 0.9% in the 2nd quarter. Raymond James Financial Inc. now owns 85,517 shares of the company’s stock valued at $8,039,000 after acquiring an additional 788 shares during the period.

iShares U.S. Tech Independence Focused ETF Price Performance

Shares of BATS:IETC opened at $102.80 on Monday. The company’s 50-day moving average price is $106.69 and its two-hundred day moving average price is $99.79. iShares U.S. Tech Independence Focused ETF has a one year low of $84.32 and a one year high of $118.70. The stock has a market capitalization of $740.16 million, a PE ratio of 37.47 and a beta of 1.18.

About iShares U.S. Tech Independence Focused ETF

The iShares Evolved U.S. Technology ETF (IETC) is an exchange-traded fund that is based on the MSCI USA IMI Information Technology index. The fund is an actively managed fund of US stocks in the information technology sector according to an alternative classification system defined by machine learning algorithms. The market cap-weighted fund targets an increased exposure to firms with high Technology Independence Score. IETC was launched on Mar 21, 2018 and is managed by BlackRock.