iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sets New 1-Year High – Still a Buy?

iShares Expanded Tech Sector ETF (NYSEARCA:IGM)’s share price reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $172.75 and last traded at $172.8310, with a volume of 20479 shares traded. The stock had previously closed at $170.24.

iShares Expanded Tech Sector ETF Price Performance

The company has a market capitalization of $11.69 billion, a PE ratio of 34.08 and a beta of 1.40. The business’s 50 day simple moving average is $161.39 and its 200 day simple moving average is $152.36.

Institutional Trading of iShares Expanded Tech Sector ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Lido Advisors LLC boosted its stake in shares of iShares Expanded Tech Sector ETF by 3,325.3% during the fourth quarter. Lido Advisors LLC now owns 235,458 shares of the exchange traded fund’s stock worth $30,390,000 after buying an additional 228,584 shares during the period. Decker Wealth Management LLC acquired a new position in iShares Expanded Tech Sector ETF in the 1st quarter valued at about $12,310,000. BNP Paribas Financial Markets increased its position in iShares Expanded Tech Sector ETF by 131,505.3% in the 4th quarter. BNP Paribas Financial Markets now owns 50,010 shares of the exchange traded fund’s stock valued at $6,459,000 after acquiring an additional 49,972 shares during the period. Avior Wealth Management LLC acquired a new position in iShares Expanded Tech Sector ETF in the 2nd quarter valued at about $5,548,000. Finally, Fifth Third Bancorp raised its stake in iShares Expanded Tech Sector ETF by 409.8% during the 1st quarter. Fifth Third Bancorp now owns 27,262 shares of the exchange traded fund’s stock valued at $3,231,000 after acquiring an additional 21,914 shares during the last quarter.

iShares Expanded Tech Sector ETF Company Profile

iShares North American Tech ETF, formerly iShares S&P North American Technology Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, of the United States-traded technology companies, as represented by the S&P North American Technology Sector Index (the Index). The Index has been developed as an equity benchmark for the United States-traded, technology-related stocks. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Index.