iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Hits New 52-Week High – Should You Buy?

Shares of iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $61.94 and last traded at $61.67, with a volume of 71305 shares changing hands. The stock had previously closed at $60.71.

iShares Cybersecurity and Tech ETF Stock Up 2.6%

The company has a market capitalization of $984.50 million, a P/E ratio of 26.03 and a beta of 0.82. The business’s 50-day moving average is $53.73 and its two-hundred day moving average is $48.83.

Hedge Funds Weigh In On iShares Cybersecurity and Tech ETF

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of iShares Cybersecurity and Tech ETF by 0.8% in the 3rd quarter. Bank of America Corp DE now owns 1,846,910 shares of the company’s stock worth $96,649,000 after buying an additional 15,129 shares during the last quarter. Scotia Capital Inc. increased its position in shares of iShares Cybersecurity and Tech ETF by 13.1% during the third quarter. Scotia Capital Inc. now owns 153,529 shares of the company’s stock valued at $8,034,000 after acquiring an additional 17,803 shares during the last quarter. Royal Bank of Canada increased its position in shares of iShares Cybersecurity and Tech ETF by 4.0% during the first quarter. Royal Bank of Canada now owns 141,754 shares of the company’s stock valued at $6,187,000 after acquiring an additional 5,511 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in iShares Cybersecurity and Tech ETF by 4.1% during the second quarter. Ameriprise Financial Inc. now owns 141,667 shares of the company’s stock worth $7,534,000 after acquiring an additional 5,560 shares during the period. Finally, Nelson Capital Management LLC lifted its holdings in iShares Cybersecurity and Tech ETF by 3.3% during the third quarter. Nelson Capital Management LLC now owns 92,827 shares of the company’s stock worth $4,858,000 after acquiring an additional 2,961 shares during the period.

About iShares Cybersecurity and Tech ETF

The iShares Cybersecurity and Tech ETF (IHAK) is an exchange-traded fund that is based on the NYSE FactSet Global Cyber Security index. The fund tracks a market cap-selected and -weighted index of large- and mid-cap companies involved in cyber hardware and software. IHAK was launched on Jun 11, 2019 and is managed by BlackRock.