iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sees Large Volume Increase – Should You Buy?

Shares of iShares Expanded Tech Sector ETF (NYSEARCA:IGM) saw unusually-strong trading volume on Thursday. Approximately 1,640,806 shares changed hands during mid-day trading, an increase of 189% from the average daily volume of 568,167 shares. The stock last traded at $142.8980 and had previously closed at $150.80.

iShares Expanded Tech Sector ETF Trading Down 5.8%

The business’s 50 day moving average price is $163.42 and its two-hundred day moving average price is $148.53. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 34.08 and a beta of 1.42.

Hedge Funds Weigh In On iShares Expanded Tech Sector ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WestEnd Advisors LLC bought a new stake in shares of iShares Expanded Tech Sector ETF during the third quarter worth $119,706,000. Commonwealth Equity Services LLC acquired a new position in shares of iShares Expanded Tech Sector ETF during the third quarter worth $81,230,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of iShares Expanded Tech Sector ETF in the 3rd quarter valued at $60,391,000. Lido Advisors LLC bought a new position in shares of iShares Expanded Tech Sector ETF in the 3rd quarter valued at $38,725,000. Finally, Seven Bridges Advisors LLC bought a new position in shares of iShares Expanded Tech Sector ETF in the 3rd quarter valued at $25,928,000.

About iShares Expanded Tech Sector ETF

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.