iShares U.S. Tech Independence Focused ETF (BATS:IETC) Sets New 52-Week High – Still a Buy?

iShares U.S. Tech Independence Focused ETF (BATS:IETC)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $110.58 and last traded at $110.58, with a volume of 7990 shares changing hands. The stock had previously closed at $109.17.

iShares U.S. Tech Independence Focused ETF Stock Performance

The business’s 50 day simple moving average is $98.77 and its 200-day simple moving average is $98.60. The company has a market cap of $798.77 million, a price-to-earnings ratio of 37.47 and a beta of 1.18.

Institutional Investors Weigh In On iShares U.S. Tech Independence Focused ETF

Institutional investors have recently modified their holdings of the stock. Gradient Investments LLC boosted its stake in shares of iShares U.S. Tech Independence Focused ETF by 7.9% during the 4th quarter. Gradient Investments LLC now owns 673,735 shares of the company’s stock valued at $68,445,000 after buying an additional 49,147 shares during the period. Apexium Financial LP boosted its stake in shares of iShares U.S. Tech Independence Focused ETF by 33.2% during the 3rd quarter. Apexium Financial LP now owns 89,167 shares of the company’s stock valued at $9,089,000 after buying an additional 22,235 shares during the period. Assetmark Inc. boosted its stake in shares of iShares U.S. Tech Independence Focused ETF by 928.1% during the 4th quarter. Assetmark Inc. now owns 209,468 shares of the company’s stock valued at $21,280,000 after buying an additional 189,094 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of iShares U.S. Tech Independence Focused ETF by 388.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 6,995 shares of the company’s stock valued at $710,000 after buying an additional 5,564 shares during the period. Finally, A4 Wealth Advisors LLC acquired a new stake in shares of iShares U.S. Tech Independence Focused ETF during the 3rd quarter valued at $755,000.

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.