iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sets New 1-Year High – Time to Buy?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $53.01 and last traded at $52.97, with a volume of 68766 shares changing hands. The stock had previously closed at $52.62.

iShares Cybersecurity and Tech ETF Price Performance

The firm has a market capitalization of $930.24 million, a PE ratio of 36.33 and a beta of 1.17. The company’s fifty day simple moving average is $50.28 and its 200 day simple moving average is $49.37.

Institutional Investors Weigh In On iShares Cybersecurity and Tech ETF

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in iShares Cybersecurity and Tech ETF by 16.0% during the fourth quarter. Bank of America Corp DE now owns 1,719,224 shares of the company’s stock valued at $83,881,000 after purchasing an additional 236,973 shares during the last quarter. Wharton Business Group LLC lifted its holdings in iShares Cybersecurity and Tech ETF by 0.8% during the fourth quarter. Wharton Business Group LLC now owns 297,295 shares of the company’s stock valued at $14,505,000 after purchasing an additional 2,235 shares during the last quarter. Bank of Montreal Can lifted its holdings in iShares Cybersecurity and Tech ETF by 180.5% during the third quarter. Bank of Montreal Can now owns 128,147 shares of the company’s stock valued at $6,214,000 after purchasing an additional 82,460 shares during the last quarter. HighTower Advisors LLC lifted its holdings in iShares Cybersecurity and Tech ETF by 2.6% during the fourth quarter. HighTower Advisors LLC now owns 120,371 shares of the company’s stock valued at $5,873,000 after purchasing an additional 3,032 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of iShares Cybersecurity and Tech ETF by 2.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 93,092 shares of the company’s stock valued at $4,542,000 after buying an additional 2,409 shares during the period.

iShares Cybersecurity and Tech ETF Company Profile

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.