iShares U.S. Tech Independence Focused ETF (BATS:IETC) Hits New 52-Week High – Time to Buy?

iShares U.S. Tech Independence Focused ETF (BATS:IETC)’s share price reached a new 52-week high during trading on Tuesday. The stock traded as high as $118.78 and last traded at $118.52, with a volume of 3263 shares. The stock had previously closed at $117.45.

iShares U.S. Tech Independence Focused ETF Stock Performance

The firm has a market capitalization of $854.71 million, a P/E ratio of 37.47 and a beta of 1.18. The business has a 50 day simple moving average of $109.65 and a two-hundred day simple moving average of $105.06.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Gradient Investments LLC raised its stake in iShares U.S. Tech Independence Focused ETF by 18.4% in the second quarter. Gradient Investments LLC now owns 858,000 shares of the company’s stock valued at $92,106,000 after purchasing an additional 133,543 shares in the last quarter. Oakwell Private Wealth Management LLC grew its stake in iShares U.S. Tech Independence Focused ETF by 101.3% in the 1st quarter. Oakwell Private Wealth Management LLC now owns 52,534 shares of the company’s stock worth $4,643,000 after buying an additional 26,434 shares in the last quarter. Mattson Financial Services LLC increased its holdings in shares of iShares U.S. Tech Independence Focused ETF by 8.5% in the 4th quarter. Mattson Financial Services LLC now owns 44,137 shares of the company’s stock worth $4,484,000 after buying an additional 3,444 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of iShares U.S. Tech Independence Focused ETF by 84.7% in the 1st quarter. Royal Bank of Canada now owns 40,924 shares of the company’s stock worth $3,617,000 after buying an additional 18,763 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of iShares U.S. Tech Independence Focused ETF by 170.2% in the 2nd quarter. Citadel Advisors LLC now owns 38,686 shares of the company’s stock worth $4,153,000 after buying an additional 24,370 shares during the last quarter.

iShares U.S. Tech Independence Focused ETF Company Profile

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.