iShares U.S. Tech Independence Focused ETF (BATS:IETC) Stock Price Break Below 200 Day Moving Average – Time to Sell?

iShares U.S. Tech Independence Focused ETF (BATS:IETC) shares passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $103.35 and traded as low as $100.77. iShares U.S. Tech Independence Focused ETF shares last traded at $102.17, with a volume of 17,766 shares.

iShares U.S. Tech Independence Focused ETF Stock Down 4.9%

The firm has a 50-day moving average of $110.72 and a two-hundred day moving average of $103.35. The company has a market capitalization of $735.62 million, a PE ratio of 37.47 and a beta of 1.18.

Institutional Investors Weigh In On iShares U.S. Tech Independence Focused ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in IETC. Liberty One Investment Management LLC purchased a new stake in iShares U.S. Tech Independence Focused ETF during the first quarter worth $1,660,000. Oakwell Private Wealth Management LLC grew its position in iShares U.S. Tech Independence Focused ETF by 101.3% during the first quarter. Oakwell Private Wealth Management LLC now owns 52,534 shares of the company’s stock valued at $4,643,000 after buying an additional 26,434 shares during the period. Paladin Wealth LLC increased its holdings in iShares U.S. Tech Independence Focused ETF by 21.0% in the second quarter. Paladin Wealth LLC now owns 26,617 shares of the company’s stock valued at $2,857,000 after buying an additional 4,615 shares in the last quarter. Royal Bank of Canada increased its holdings in iShares U.S. Tech Independence Focused ETF by 84.7% in the first quarter. Royal Bank of Canada now owns 40,924 shares of the company’s stock valued at $3,617,000 after buying an additional 18,763 shares in the last quarter. Finally, Gradient Investments LLC increased its holdings in iShares U.S. Tech Independence Focused ETF by 18.4% in the second quarter. Gradient Investments LLC now owns 858,000 shares of the company’s stock valued at $92,106,000 after buying an additional 133,543 shares in the last quarter.

About iShares U.S. Tech Independence Focused ETF

The iShares Evolved U.S. Technology ETF (IETC) is an exchange-traded fund that is based on the MSCI USA IMI Information Technology index. The fund is an actively managed fund of US stocks in the information technology sector according to an alternative classification system defined by machine learning algorithms. The market cap-weighted fund targets an increased exposure to firms with high Technology Independence Score. IETC was launched on Mar 21, 2018 and is managed by BlackRock.