Vanguard Information Technology ETF (NYSEARCA:VGT) Shares Cross Below 200-Day Moving Average – Here’s Why

Vanguard Information Technology ETF (NYSEARCA:VGT) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $109.65 and traded as low as $106.89. Vanguard Information Technology ETF shares last traded at $107.06, with a volume of 16,058,280 shares traded.

Vanguard Information Technology ETF Stock Performance

The firm has a market cap of $134.64 billion, a P/E ratio of 34.55 and a beta of 1.36. The company has a 50-day moving average of $121.84 and a 200 day moving average of $109.73.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VGT. Bank of America Corp DE grew its holdings in shares of Vanguard Information Technology ETF by 1.6% in the 1st quarter. Bank of America Corp DE now owns 15,105,780 shares of the exchange traded fund’s stock worth $10,539,605,000 after purchasing an additional 241,421 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Vanguard Information Technology ETF by 657.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,731,562 shares of the exchange traded fund’s stock valued at $565,516,000 after purchasing an additional 4,107,038 shares during the last quarter. Systematic Alpha Investments LLC boosted its position in Vanguard Information Technology ETF by 700.0% in the first quarter. Systematic Alpha Investments LLC now owns 658,400 shares of the exchange traded fund’s stock valued at $459,379,000 after buying an additional 576,100 shares in the last quarter. HighTower Advisors LLC boosted its position in Vanguard Information Technology ETF by 762.8% in the second quarter. HighTower Advisors LLC now owns 3,651,091 shares of the exchange traded fund’s stock valued at $436,378,000 after buying an additional 3,227,909 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Vanguard Information Technology ETF by 817.3% in the second quarter. Envestnet Asset Management Inc. now owns 3,330,327 shares of the exchange traded fund’s stock valued at $398,041,000 after buying an additional 2,967,256 shares in the last quarter.

About Vanguard Information Technology ETF

Vanguard Information Technology ETF seeks to track the investment performance of the MSCI US Investable Market Information Technology 25/50 Index, a benchmark of large-, mid-, and small-cap United States stocks in the information technology sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies in three areas: technology software and services, including companies that develop software in various fields (such as the Internet, applications, systems, databases, and/or home entertainment), and companies that provide information technology consulting and services, data processing, and outsourced services; technology hardware and equipment, including manufacturers and distributors of communications equipment, computers and peripherals and electronic equipment, and semiconductors and semiconductor equipment manufacturers.