iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sets New 1-Year High – Here’s Why

Shares of iShares Expanded Tech Sector ETF (NYSEARCA:IGM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $102.38 and last traded at $102.32, with a volume of 12614 shares. The stock had previously closed at $101.86.

iShares Expanded Tech Sector ETF Price Performance

The stock’s 50 day moving average price is $95.55 and its two-hundred day moving average price is $92.51. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 7.11 and a beta of 1.53.

Institutional Trading of iShares Expanded Tech Sector ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IGM. Signature Estate & Investment Advisors LLC boosted its stake in shares of iShares Expanded Tech Sector ETF by 4.0% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,855,115 shares of the exchange traded fund’s stock valued at $177,980,000 after purchasing an additional 71,852 shares in the last quarter. LPL Financial LLC grew its stake in iShares Expanded Tech Sector ETF by 17.7% during the second quarter. LPL Financial LLC now owns 868,769 shares of the exchange traded fund’s stock worth $81,934,000 after buying an additional 130,619 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in iShares Expanded Tech Sector ETF by 57.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 427,716 shares of the exchange traded fund’s stock worth $40,338,000 after buying an additional 156,117 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of iShares Expanded Tech Sector ETF by 17.3% during the second quarter. Envestnet Asset Management Inc. now owns 313,372 shares of the exchange traded fund’s stock worth $29,554,000 after buying an additional 46,106 shares in the last quarter. Finally, GM Advisory Group LLC raised its stake in shares of iShares Expanded Tech Sector ETF by 2.1% in the second quarter. GM Advisory Group LLC now owns 293,677 shares of the exchange traded fund’s stock valued at $27,697,000 after acquiring an additional 5,958 shares during the last quarter.

About iShares Expanded Tech Sector ETF

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).