iShares U.S. Tech Independence Focused ETF (BATS:IETC) Short Interest Update

iShares U.S. Tech Independence Focused ETF (BATS:IETC) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 6,905 shares, a drop of 41.7% from the July 15th total of 11,843 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 76,962 shares, the days-to-cover ratio is currently 0.1 days.

iShares U.S. Tech Independence Focused ETF Stock Performance

BATS IETC opened at $112.08 on Monday. The stock’s 50-day moving average price is $105.81 and its two-hundred day moving average price is $100.66. The company has a market cap of $806.98 million, a PE ratio of 37.47 and a beta of 1.18. iShares U.S. Tech Independence Focused ETF has a 1 year low of $84.32 and a 1 year high of $118.70.

Institutional Investors Weigh In On iShares U.S. Tech Independence Focused ETF

Several hedge funds have recently made changes to their positions in IETC. Truist Financial Corp boosted its position in iShares U.S. Tech Independence Focused ETF by 103.2% during the 4th quarter. Truist Financial Corp now owns 47,376 shares of the company’s stock worth $4,813,000 after acquiring an additional 24,064 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of iShares U.S. Tech Independence Focused ETF by 20.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 81,511 shares of the company’s stock valued at $8,281,000 after purchasing an additional 13,626 shares during the period. Oakwell Private Wealth Management LLC acquired a new position in shares of iShares U.S. Tech Independence Focused ETF in the 4th quarter valued at about $2,651,000. Liberty One Investment Management LLC acquired a new position in shares of iShares U.S. Tech Independence Focused ETF in the 1st quarter valued at about $1,660,000. Finally, Paladin Wealth LLC lifted its position in shares of iShares U.S. Tech Independence Focused ETF by 21.0% in the second quarter. Paladin Wealth LLC now owns 26,617 shares of the company’s stock worth $2,857,000 after purchasing an additional 4,615 shares in the last quarter.

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.