iShares U.S. Tech Independence Focused ETF (BATS:IETC) Hits New 12-Month High – Here’s What Happened

iShares U.S. Tech Independence Focused ETF (BATS:IETC)’s stock price hit a new 52-week high on Tuesday. The company traded as high as $118.78 and last traded at $118.52, with a volume of 3263 shares. The stock had previously closed at $117.45.

iShares U.S. Tech Independence Focused ETF Stock Down 0.2%

The company’s 50-day moving average is $110.45 and its two-hundred day moving average is $105.43. The company has a market cap of $850.82 million, a P/E ratio of 37.47 and a beta of 1.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Liberty One Investment Management LLC bought a new position in iShares U.S. Tech Independence Focused ETF during the first quarter valued at $1,660,000. Oakwell Private Wealth Management LLC raised its stake in shares of iShares U.S. Tech Independence Focused ETF by 101.3% in 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 lifted its position in shares of iShares U.S. Tech Independence Focused ETF by 21.0% during the 2nd 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 during the last quarter. Royal Bank of Canada lifted its position in shares of iShares U.S. Tech Independence Focused ETF by 84.7% during the 1st 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 during the last quarter. Finally, Gradient Investments LLC grew its stake in shares of iShares U.S. Tech Independence Focused ETF by 18.4% during the 2nd quarter. Gradient Investments LLC now owns 858,000 shares of the company’s stock worth $92,106,000 after acquiring an additional 133,543 shares during the period.

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.