iShares Global Tech ETF (NYSEARCA:IXN) Sees Unusually-High Trading Volume – Here’s Why

iShares Global Tech ETF (NYSEARCA:IXN) shares saw unusually-high trading volume on Friday . Approximately 1,138,178 shares traded hands during mid-day trading, an increase of 303% from the previous session’s volume of 282,382 shares.The stock last traded at $87.59 and had previously closed at $88.19.

iShares Global Tech ETF Price Performance

The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 37.10 and a beta of 1.13. The firm has a 50 day simple moving average of $85.70 and a 200-day simple moving average of $83.34.

Institutional Investors Weigh In On iShares Global Tech ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of IXN. Park Avenue Securities LLC acquired a new position in iShares Global Tech ETF during the 4th quarter worth $201,000. Townsquare Capital LLC increased its position in iShares Global Tech ETF by 16.1% in the third quarter. Townsquare Capital LLC now owns 3,197 shares of the company’s stock worth $264,000 after purchasing an additional 444 shares during the period. US Bancorp DE grew its position in shares of iShares Global Tech ETF by 6.3% during the 3rd quarter. US Bancorp DE now owns 17,401 shares of the company’s stock worth $1,436,000 after buying an additional 1,025 shares during the period. International Assets Investment Management LLC grew its position in shares of iShares Global Tech ETF by 9,022.6% during the 3rd quarter. International Assets Investment Management LLC now owns 358,428 shares of the company’s stock worth $29,581,000 after buying an additional 354,499 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in iShares Global Tech ETF during the 3rd quarter worth $28,000.

About iShares Global Tech ETF

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.