iShares Global Tech ETF (NYSEARCA:IXN) Sees Large Volume Increase – Here’s Why

iShares Global Tech ETF (NYSEARCA:IXN) saw an uptick in trading volume on Wednesday . Approximately 1,120,740 shares traded hands during trading, an increase of 197% from the previous session’s volume of 377,365 shares.The stock last traded at $138.28 and had previously closed at $138.92.

iShares Global Tech ETF Stock Performance

The firm’s 50 day simple moving average is $138.50 and its 200-day simple moving average is $118.38. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 34.73 and a beta of 1.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new stake in iShares Global Tech ETF during the 4th quarter worth about $25,000. Tucker Asset Management LLC acquired a new position in shares of iShares Global Tech ETF in the 4th quarter valued at about $28,000. Bayban acquired a new position in shares of iShares Global Tech ETF in the 1st quarter valued at about $28,000. Larson Financial Group LLC purchased a new stake in shares of iShares Global Tech ETF in the third quarter worth approximately $28,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of iShares Global Tech ETF in the fourth quarter worth approximately $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.