Vanguard Information Technology ETF (NYSEARCA:VGT) Hits New 52-Week High – Time to Buy?

Vanguard Information Technology ETF (NYSEARCA:VGT) shares hit a new 52-week high on Thursday . The stock traded as high as $103.05 and last traded at $103.03, with a volume of 3846414 shares changing hands. The stock had previously closed at $101.02.

Vanguard Information Technology ETF Price Performance

The company has a market cap of $123.98 billion, a P/E ratio of 34.55 and a beta of 1.26. The company’s 50-day moving average is $91.80 and its two-hundred day moving average is $93.72.

Institutional Investors Weigh In On Vanguard Information Technology ETF

Several institutional investors and hedge funds have recently made changes to their positions in VGT. Kingdom Financial Group LLC. bought a new stake in shares of Vanguard Information Technology ETF during the fourth quarter valued at approximately $27,000. Wells Financial Advisors INC purchased a new stake in Vanguard Information Technology ETF in the fourth quarter worth approximately $29,000. Strategic Advocates LLC purchased a new stake in Vanguard Information Technology ETF in the third quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Vanguard Information Technology ETF in the fourth quarter worth approximately $30,000. Finally, First Command Advisory Services Inc. purchased a new stake in Vanguard Information Technology ETF in the third quarter worth approximately $31,000.

Vanguard Information Technology ETF Company Profile

Vanguard Information Technology ETF seeks to track the investment performance of the MSCI US Investable Market Information Technology 25/50 Index, a benchmark of large-, mid-, and small-cap United States stocks in the information technology sector, as classified under the Global Industry Classification Standard (GICS). This GICS sector is made up of companies in three areas: technology software and services, including companies that develop software in various fields (such as the Internet, applications, systems, databases, and/or home entertainment), and companies that provide information technology consulting and services, data processing, and outsourced services; technology hardware and equipment, including manufacturers and distributors of communications equipment, computers and peripherals and electronic equipment, and semiconductors and semiconductor equipment manufacturers.