iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sees Significant Decrease in Short Interest

iShares Expanded Tech Sector ETF (NYSEARCA:IGM) was the recipient of a large decline in short interest in May. As of May 29th, there was short interest totaling 111,408 shares, a decline of 33.1% from the May 14th total of 166,533 shares. Based on an average daily volume of 644,981 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in shares of iShares Expanded Tech Sector ETF during the 1st quarter worth about $274,000. Goldman Sachs Group Inc. boosted its position in shares of iShares Expanded Tech Sector ETF by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,105 shares of the exchange traded fund’s stock worth $16,239,000 after acquiring an additional 10,218 shares in the last quarter. First Trust Advisors LP boosted its position in shares of iShares Expanded Tech Sector ETF by 13.1% during the 2nd quarter. First Trust Advisors LP now owns 58,839 shares of the exchange traded fund’s stock worth $6,610,000 after acquiring an additional 6,811 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of iShares Expanded Tech Sector ETF during the 2nd quarter worth about $3,083,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of iShares Expanded Tech Sector ETF by 3.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,268 shares of the exchange traded fund’s stock worth $367,000 after acquiring an additional 118 shares in the last quarter.

iShares Expanded Tech Sector ETF Price Performance

IGM opened at $165.09 on Tuesday. iShares Expanded Tech Sector ETF has a 12 month low of $105.36 and a 12 month high of $171.48. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of 34.08 and a beta of 1.39. The business has a fifty day moving average price of $148.62 and a 200 day moving average price of $134.67.

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.