iShares U.S. Tech Independence Focused ETF (BATS:IETC) Stock Price Cross Below 200-Day Moving Average – Here’s Why

iShares U.S. Tech Independence Focused ETF (BATS:IETC)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-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 changing hands.

iShares U.S. Tech Independence Focused ETF Stock Performance

The firm has a market capitalization of $735.62 million, a PE ratio of 37.47 and a beta of 1.18. The stock’s 50-day simple moving average is $110.72 and its 200-day simple moving average is $103.35.

Hedge Funds Weigh In On iShares U.S. Tech Independence Focused ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gradient Investments LLC raised 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 worth $92,106,000 after purchasing an additional 133,543 shares in the last quarter. Oakwell Private Wealth Management LLC lifted 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. Citadel Advisors LLC boosted its holdings 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 valued at $4,153,000 after buying an additional 24,370 shares in the last quarter. Liberty One Investment Management LLC bought a new stake in shares of iShares U.S. Tech Independence Focused ETF during the 1st quarter valued at $1,660,000. Finally, Royal Bank of Canada boosted its holdings 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 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.