iShares U.S. Tech Independence Focused ETF (BATS:IETC) Sees Large Increase in Short Interest

iShares U.S. Tech Independence Focused ETF (BATS:IETC) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 9,352 shares, an increase of 914.3% from the May 14th total of 922 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 60,821 shares, the days-to-cover ratio is currently 0.2 days.

iShares U.S. Tech Independence Focused ETF Stock Performance

Shares of BATS:IETC opened at $106.13 on Friday. The company has a market cap of $764.14 million, a PE ratio of 37.47 and a beta of 1.18. iShares U.S. Tech Independence Focused ETF has a 52 week low of $84.32 and a 52 week high of $118.70. The firm has a 50 day simple moving average of $103.54 and a 200 day simple moving average of $99.44.

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

Several hedge funds have recently made changes to their positions in the company. Financial Perspectives Inc lifted its position in shares of iShares U.S. Tech Independence Focused ETF by 1.3% in the 4th quarter. Financial Perspectives Inc now owns 10,859 shares of the company’s stock valued at $1,103,000 after acquiring an additional 137 shares in the last quarter. Sound Income Strategies LLC lifted its position in iShares U.S. Tech Independence Focused ETF by 48.8% in the 4th quarter. Sound Income Strategies LLC now owns 442 shares of the company’s stock worth $45,000 after buying an additional 145 shares in the last quarter. NewEdge Advisors LLC lifted its position in iShares U.S. Tech Independence Focused ETF by 25.0% in the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the company’s stock worth $66,000 after buying an additional 150 shares in the last quarter. Comprehensive Financial Planning Inc. PA lifted its position in iShares U.S. Tech Independence Focused ETF by 3.5% in the 3rd quarter. Comprehensive Financial Planning Inc. PA now owns 4,959 shares of the company’s stock worth $505,000 after buying an additional 166 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in iShares U.S. Tech Independence Focused ETF by 6.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,217 shares of the company’s stock worth $331,000 after buying an additional 183 shares in the last quarter.

About iShares U.S. Tech Independence Focused ETF

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.