iShares Global Tech ETF (NYSEARCA:IXN) Sees Strong Trading Volume – Here’s Why

iShares Global Tech ETF (NYSEARCA:IXN) shares saw strong trading volume on Monday . 188,442 shares changed hands during trading, an increase of 116% from the previous session’s volume of 87,425 shares.The stock last traded at $107.2320 and had previously closed at $105.90.

iShares Global Tech ETF Price Performance

The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 34.73 and a beta of 1.24. The firm’s 50-day moving average is $105.51 and its 200 day moving average is $100.83.

Institutional Investors Weigh In On iShares Global Tech ETF

Hedge funds have recently modified their holdings of the stock. NorthCrest Asset Manangement LLC grew its stake in iShares Global Tech ETF by 2.0% in the third quarter. NorthCrest Asset Manangement LLC now owns 4,770 shares of the company’s stock worth $500,000 after purchasing an additional 95 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in iShares Global Tech ETF by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 13,498 shares of the company’s stock worth $1,246,000 after purchasing an additional 115 shares during the period. Farther Finance Advisors LLC increased its stake in iShares Global Tech ETF by 8.0% during the second quarter. Farther Finance Advisors LLC now owns 1,561 shares of the company’s stock valued at $144,000 after purchasing an additional 116 shares during the last quarter. MGO One Seven LLC raised its holdings in shares of iShares Global Tech ETF by 1.3% during the third quarter. MGO One Seven LLC now owns 9,559 shares of the company’s stock worth $987,000 after purchasing an additional 121 shares during the period. Finally, Intelligence Driven Advisers LLC raised its holdings in shares of iShares Global Tech ETF by 4.0% during the third quarter. Intelligence Driven Advisers LLC now owns 3,397 shares of the company’s stock worth $351,000 after purchasing an additional 130 shares during the period.

About iShares Global Tech ETF

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.