iShares Global Tech ETF (NYSEARCA:IXN) Sees Strong Trading Volume – Still a Buy?

iShares Global Tech ETF (NYSEARCA:IXN) saw unusually-strong trading volume on Thursday . Approximately 213,427 shares traded hands during trading, a decline of 11% from the previous session’s volume of 240,629 shares.The stock last traded at $77.72 and had previously closed at $78.25.

iShares Global Tech ETF Price Performance

The stock has a market cap of $4.62 billion, a P/E ratio of 32.70 and a beta of 1.15. The firm’s fifty day moving average price is $82.63 and its two-hundred day moving average price is $83.32.

Hedge Funds Weigh In On iShares Global Tech ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in shares of iShares Global Tech ETF by 10.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,011,498 shares of the company’s stock valued at $85,724,000 after purchasing an additional 94,145 shares during the last quarter. FIL Ltd lifted its holdings in shares of iShares Global Tech ETF by 6.4% in the 4th quarter. FIL Ltd now owns 802,955 shares of the company’s stock worth $68,323,000 after acquiring an additional 48,385 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of iShares Global Tech ETF by 1,258.0% in the 4th quarter. Wealthfront Advisers LLC now owns 786,089 shares of the company’s stock valued at $66,621,000 after purchasing an additional 728,205 shares in the last quarter. Patten & Patten Inc. TN boosted its position in iShares Global Tech ETF by 0.9% during the fourth quarter. Patten & Patten Inc. TN now owns 469,909 shares of the company’s stock valued at $39,825,000 after buying an additional 4,405 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in iShares Global Tech ETF by 1.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 464,811 shares of the company’s stock worth $39,393,000 after purchasing an additional 7,190 shares during the period.

iShares Global Tech ETF Company Profile

iShares Global Tech ETF (the Fund), formerly iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Information Technology Sector Index (the Index). The Index measures the performance of companies that Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies (S&P) deems to be part of the information technology sector of the economy.