Palumbo Wealth Management LLC Purchases Shares of 5,200 iShares U.S. Technology ETF $IYW

Palumbo Wealth Management LLC purchased a new stake in shares of iShares U.S. Technology ETF (NYSEARCA:IYW) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,200 shares of the exchange traded fund’s stock, valued at approximately $1,038,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IYW. Triumph Capital Management acquired a new position in iShares U.S. Technology ETF during the third quarter valued at approximately $28,000. Bangor Savings Bank acquired a new position in iShares U.S. Technology ETF during the third quarter valued at approximately $31,000. Hantz Financial Services Inc. acquired a new position in iShares U.S. Technology ETF during the third quarter valued at approximately $31,000. Abound Wealth Management acquired a new position in iShares U.S. Technology ETF during the third quarter valued at approximately $34,000. Finally, Collier Financial acquired a new position in iShares U.S. Technology ETF during the third quarter valued at approximately $37,000. 57.65% of the stock is owned by institutional investors and hedge funds.

iShares U.S. Technology ETF Stock Up 0.4%

Shares of IYW stock opened at $187.31 on Wednesday. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 34.95 and a beta of 1.25. iShares U.S. Technology ETF has a fifty-two week low of $120.43 and a fifty-two week high of $211.98. The firm’s 50 day moving average price is $190.04 and its two-hundred day moving average price is $196.28.

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.