iShares U.S. Technology ETF (NYSEARCA:IYW) Hits New 52-Week High – What’s Next?

iShares U.S. Technology ETF (NYSEARCA:IYW)’s stock price hit a new 52-week high during trading on Wednesday. The company traded as high as $267.06 and last traded at $266.4690, with a volume of 42879 shares. The stock had previously closed at $263.34.

iShares U.S. Technology ETF Stock Performance

The stock has a market cap of $26.79 billion, a PE ratio of 34.95 and a beta of 1.36. The company’s 50-day moving average price is $250.59 and its two-hundred day moving average price is $234.33.

Institutional Investors Weigh In On iShares U.S. Technology ETF

A number of large investors have recently added to or reduced their stakes in IYW. Envestnet Asset Management Inc. lifted its stake in iShares U.S. Technology ETF by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 1,352,659 shares of the exchange traded fund’s stock worth $341,174,000 after purchasing an additional 31,952 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of iShares U.S. Technology ETF in the 2nd quarter worth about $200,579,000. Arlington Capital Management Inc. bought a new position in shares of iShares U.S. Technology ETF during the 2nd quarter valued at about $218,000. Capital Analysts LLC increased its position in shares of iShares U.S. Technology ETF by 6.1% during the 2nd quarter. Capital Analysts LLC now owns 5,096 shares of the exchange traded fund’s stock valued at $1,285,000 after purchasing an additional 295 shares during the last quarter. Finally, Capital Advantage Inc. purchased a new position in shares of iShares U.S. Technology ETF during the 2nd quarter valued at about $218,000. Hedge funds and other institutional investors own 57.65% of the company’s stock.

About iShares U.S. Technology ETF

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.