iShares U.S. Technology ETF (NYSEARCA:IYW) Hits New 12-Month High – Time to Buy?

iShares U.S. Technology ETF (NYSEARCA:IYW)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $245.29 and last traded at $245.01, with a volume of 68166 shares changing hands. The stock had previously closed at $241.77.

iShares U.S. Technology ETF Trading Down 0.4%

The firm has a market cap of $24.23 billion, a price-to-earnings ratio of 34.95 and a beta of 1.33. The business’s 50-day simple moving average is $210.78 and its two-hundred day simple moving average is $201.89.

Institutional Trading of iShares U.S. Technology ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GKV Capital Management Co. Inc. increased its position in iShares U.S. Technology ETF by 3.2% during the 1st quarter. GKV Capital Management Co. Inc. now owns 1,462 shares of the exchange traded fund’s stock valued at $265,000 after purchasing an additional 46 shares during the period. BankChampaign National Association acquired a new stake in iShares U.S. Technology ETF during the 1st quarter valued at approximately $73,000. Western Wealth Management LLC increased its position in iShares U.S. Technology ETF by 26.0% during the 1st quarter. Western Wealth Management LLC now owns 17,175 shares of the exchange traded fund’s stock valued at $3,116,000 after purchasing an additional 3,539 shares during the period. Cornerstone Wealth LLC TN acquired a new stake in iShares U.S. Technology ETF during the 1st quarter valued at approximately $468,000. Finally, Ashton Thomas Securities LLC acquired a new stake in iShares U.S. Technology ETF during the 1st quarter valued at approximately $1,101,000. Institutional investors and hedge funds 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.