iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Reaches New 1-Year High – Should You Buy?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $50.97 and last traded at $50.88, with a volume of 2729 shares trading hands. The stock had previously closed at $49.46.

iShares Cybersecurity and Tech ETF Stock Performance

The company has a 50 day moving average of $48.77 and a two-hundred day moving average of $46.74. The stock has a market cap of $915.48 million, a PE ratio of 36.33 and a beta of 1.17.

Hedge Funds Weigh In On iShares Cybersecurity and Tech ETF

Several institutional investors and hedge funds have recently modified their holdings of IHAK. Wharton Business Group LLC boosted its holdings in iShares Cybersecurity and Tech ETF by 42.7% in the 3rd quarter. Wharton Business Group LLC now owns 295,060 shares of the company’s stock worth $14,381,000 after buying an additional 88,300 shares during the last quarter. Gimbal Financial acquired a new stake in iShares Cybersecurity and Tech ETF in the 3rd quarter worth about $3,753,000. Nelson Capital Management LLC acquired a new stake in iShares Cybersecurity and Tech ETF in the 1st quarter worth about $3,054,000. Watts Gwilliam & Co. LLC acquired a new stake in iShares Cybersecurity and Tech ETF in the 3rd quarter worth about $2,637,000. Finally, Aprio Wealth Management LLC acquired a new stake in iShares Cybersecurity and Tech ETF in the 3rd quarter worth about $2,131,000.

About iShares Cybersecurity and Tech ETF

The iShares Cybersecurity and Tech ETF (IHAK) is an exchange-traded fund that is based on the NYSE FactSet Global Cyber Security index. The fund tracks a market cap-selected and -weighted index of large- and mid-cap companies involved in cyber hardware and software. IHAK was launched on Jun 11, 2019 and is managed by BlackRock.