iShares U.S. Tech Independence Focused ETF (BATS:IETC) Hits New 1-Year High – Here’s Why

iShares U.S. Tech Independence Focused ETF (BATS:IETC) hit a new 52-week high during trading on Friday . The company traded as high as $109.28 and last traded at $108.66, with a volume of 9296 shares trading hands. The stock had previously closed at $107.68.

iShares U.S. Tech Independence Focused ETF Stock Up 0.8%

The business has a 50-day simple moving average of $97.46 and a two-hundred day simple moving average of $98.49. The company has a market cap of $781.85 million, a price-to-earnings ratio of 37.47 and a beta of 1.18.

Hedge Funds Weigh In On iShares U.S. Tech Independence Focused ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gradient Investments LLC increased its stake in iShares U.S. Tech Independence Focused ETF by 7.9% during the fourth quarter. Gradient Investments LLC now owns 673,735 shares of the company’s stock valued at $68,445,000 after acquiring an additional 49,147 shares during the period. LPL Financial LLC increased its stake in iShares U.S. Tech Independence Focused ETF by 16.6% during the fourth quarter. LPL Financial LLC now owns 294,702 shares of the company’s stock valued at $29,939,000 after acquiring an additional 41,869 shares during the period. Assetmark Inc. increased its stake in iShares U.S. Tech Independence Focused ETF by 928.1% during the fourth quarter. Assetmark Inc. now owns 209,468 shares of the company’s stock valued at $21,280,000 after acquiring an additional 189,094 shares during the period. JPMorgan Chase & Co. grew its stake in shares of iShares U.S. Tech Independence Focused ETF by 0.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,371 shares of the company’s stock valued at $10,639,000 after purchasing an additional 412 shares during the period. Finally, Apexium Financial LP grew its stake in shares of iShares U.S. Tech Independence Focused ETF by 33.2% in the 3rd quarter. Apexium Financial LP now owns 89,167 shares of the company’s stock valued at $9,089,000 after purchasing an additional 22,235 shares during the period.

About iShares U.S. Tech Independence Focused ETF

The iShares Evolved U.S. Technology ETF (IETC) is an exchange-traded fund that is based on the MSCI USA IMI Information Technology index. The fund is an actively managed fund of US stocks in the information technology sector according to an alternative classification system defined by machine learning algorithms. The market cap-weighted fund targets an increased exposure to firms with high Technology Independence Score. IETC was launched on Mar 21, 2018 and is managed by BlackRock.