iShares U.S. Tech Independence Focused ETF (BATS:IETC) Shares Climb 0.3% – Still a Buy?

iShares U.S. Tech Independence Focused ETF (BATS:IETC)’s share price were up 0.3% on Tuesday. The stock traded as high as $114.33 and last traded at $113.78. Approximately 9,616 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 53,109 shares. The stock had previously closed at $113.42.

iShares U.S. Tech Independence Focused ETF Stock Performance

The business’s 50 day simple moving average is $108.53 and its 200-day simple moving average is $104.40. The company has a market cap of $819.22 million, a price-to-earnings ratio of 37.47 and a beta of 1.18.

Institutional Trading of iShares U.S. Tech Independence Focused ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in iShares U.S. Tech Independence Focused ETF by 7.7% in the second quarter. Envestnet Asset Management Inc. now owns 36,369 shares of the company’s stock valued at $3,904,000 after purchasing an additional 2,594 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of iShares U.S. Tech Independence Focused ETF by 170.2% during the 2nd quarter. Citadel Advisors LLC now owns 38,686 shares of the company’s stock worth $4,153,000 after purchasing an additional 24,370 shares in the last quarter. Brown Financial Advisors lifted its holdings in shares of iShares U.S. Tech Independence Focused ETF by 4.4% during the 2nd quarter. Brown Financial Advisors now owns 30,232 shares of the company’s stock valued at $3,245,000 after buying an additional 1,266 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings in shares of iShares U.S. Tech Independence Focused ETF by 83.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 4,835 shares of the company’s stock valued at $519,000 after buying an additional 2,198 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of iShares U.S. Tech Independence Focused ETF by 35.6% in the 2nd quarter. HB Wealth Management LLC now owns 5,719 shares of the company’s stock valued at $614,000 after buying an additional 1,502 shares in the last quarter.

iShares U.S. Tech Independence Focused ETF Company Profile

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.