iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sees Large Drop in Short Interest

iShares Expanded Tech Sector ETF (NYSEARCA:IGM) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 159,900 shares, a decrease of 72.1% from the May 15th total of 573,800 shares. Based on an average daily trading volume, of 575,800 shares, the short-interest ratio is presently 0.3 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC purchased a new stake in shares of iShares Expanded Tech Sector ETF in the fourth quarter worth approximately $27,000. Financial Gravity Asset Management Inc. purchased a new stake in iShares Expanded Tech Sector ETF in the 1st quarter valued at $26,000. Larson Financial Group LLC lifted its stake in iShares Expanded Tech Sector ETF by 581.0% during the 1st quarter. Larson Financial Group LLC now owns 286 shares of the exchange traded fund’s stock valued at $26,000 after acquiring an additional 244 shares in the last quarter. Morling Financial Advisors LLC purchased a new position in iShares Expanded Tech Sector ETF during the 4th quarter worth $30,000. Finally, CX Institutional bought a new stake in shares of iShares Expanded Tech Sector ETF in the 1st quarter worth $27,000.

iShares Expanded Tech Sector ETF Stock Down 1.4%

IGM traded down $1.50 during midday trading on Friday, hitting $105.95. The company had a trading volume of 903,204 shares, compared to its average volume of 366,052. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 31.64 and a beta of 1.26. The stock’s 50 day moving average price is $96.90 and its 200 day moving average price is $99.53. iShares Expanded Tech Sector ETF has a 52 week low of $76.26 and a 52 week high of $108.73.

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).