Shum Financial Group Inc. Invests $1.57 Million in iShares Global Tech ETF (NYSEARCA:IXN)

Shum Financial Group Inc. purchased a new stake in shares of iShares Global Tech ETF (NYSEARCA:IXN) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 19,146 shares of the company’s stock, valued at approximately $1,569,000. iShares Global Tech ETF accounts for 1.3% of Shum Financial Group Inc.’s holdings, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC acquired a new stake in iShares Global Tech ETF in the second quarter worth approximately $26,000. ORG Partners LLC bought a new stake in shares of iShares Global Tech ETF in the 2nd quarter worth $60,000. Highline Wealth Partners LLC bought a new stake in shares of iShares Global Tech ETF in the 3rd quarter worth $61,000. Family Firm Inc. acquired a new stake in shares of iShares Global Tech ETF in the second quarter valued at $95,000. Finally, Concourse Financial Group Securities Inc. boosted its stake in iShares Global Tech ETF by 14.0% during the second quarter. Concourse Financial Group Securities Inc. now owns 1,692 shares of the company’s stock valued at $140,000 after buying an additional 208 shares in the last quarter.

iShares Global Tech ETF Stock Performance

Shares of NYSEARCA:IXN traded up $0.40 during trading hours on Tuesday, hitting $84.00. 37,287 shares of the company’s stock traded hands, compared to its average volume of 259,483. The company’s fifty day simple moving average is $82.68 and its two-hundred day simple moving average is $81.08. iShares Global Tech ETF has a 52 week low of $64.31 and a 52 week high of $88.10. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 34.17 and a beta of 1.37.

iShares Global Tech ETF Profile

iShares Global Tech ETF (the Fund), formerly iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Information Technology Sector Index (the Index). The Index measures the performance of companies that Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies (S&P) deems to be part of the information technology sector of the economy.