iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sees Unusually-High Trading Volume – Time to Buy?

Shares of iShares Expanded Tech Sector ETF (NYSEARCA:IGM) saw unusually-strong trading volume on Thursday. Approximately 1,640,806 shares were traded during mid-day trading, an increase of 189% from the average daily volume of 568,167 shares. The stock last traded at $142.8980 and had previously closed at $150.80.

iShares Expanded Tech Sector ETF Trading Up 1.6%

The company has a market cap of $9.75 billion, a price-to-earnings ratio of 34.08 and a beta of 1.42. The business’s 50 day moving average price is $162.62 and its 200-day moving average price is $148.65.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IGM. WestEnd Advisors LLC bought a new stake in shares of iShares Expanded Tech Sector ETF during the third quarter worth approximately $119,706,000. Commonwealth Equity Services LLC bought a new position in shares of iShares Expanded Tech Sector ETF during the third quarter worth approximately $81,230,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of iShares Expanded Tech Sector ETF during the third quarter worth approximately $60,391,000. Lido Advisors LLC acquired a new stake in iShares Expanded Tech Sector ETF during the 3rd quarter worth approximately $38,725,000. Finally, Allworth Financial LP lifted its holdings in iShares Expanded Tech Sector ETF by 0.4% during the 3rd quarter. Allworth Financial LP now owns 226,725 shares of the exchange traded fund’s stock worth $37,088,000 after purchasing an additional 900 shares during the last quarter.

iShares Expanded Tech Sector ETF Company Profile

iShares North American Tech ETF, formerly iShares S&P North American Technology Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, of the United States-traded technology companies, as represented by the S&P North American Technology Sector Index (the Index). The Index has been developed as an equity benchmark for the United States-traded, technology-related stocks. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Index.