iShares U.S. Tech Independence Focused ETF (BATS:IETC – Get Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 11,843 shares, a decrease of 74.4% from the June 30th total of 46,274 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 24,652 shares, the days-to-cover ratio is currently 0.5 days.
iShares U.S. Tech Independence Focused ETF Price Performance
Shares of IETC stock opened at $100.43 on Tuesday. iShares U.S. Tech Independence Focused ETF has a 1-year low of $84.32 and a 1-year high of $118.70. The stock’s 50-day moving average is $106.93 and its 200 day moving average is $100.08. The company has a market cap of $723.10 million, a P/E ratio of 37.47 and a beta of 1.18.
Institutional Trading of iShares U.S. Tech Independence Focused ETF
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of iShares U.S. Tech Independence Focused ETF by 32.7% in the 1st quarter. Royal Bank of Canada now owns 5,535 shares of the company’s stock worth $415,000 after buying an additional 1,365 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in iShares U.S. Tech Independence Focused ETF in the first quarter valued at approximately $1,089,000. Cetera Investment Advisers boosted its stake in iShares U.S. Tech Independence Focused ETF by 11.1% in the second quarter. Cetera Investment Advisers now owns 3,622 shares of the company’s stock valued at $340,000 after acquiring an additional 361 shares in the last quarter. NewEdge Advisors LLC boosted its stake in iShares U.S. Tech Independence Focused ETF by 1,012.8% in the second quarter. NewEdge Advisors LLC now owns 6,677 shares of the company’s stock valued at $628,000 after acquiring an additional 6,077 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in iShares U.S. Tech Independence Focused ETF by 0.9% in the second quarter. Raymond James Financial Inc. now owns 85,517 shares of the company’s stock worth $8,039,000 after purchasing an additional 788 shares during 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.
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