iShares U.S. Tech Independence Focused ETF (BATS:IETC) Short Interest Down 74.4% in July

iShares U.S. Tech Independence Focused ETF (BATS:IETC) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 11,843 shares, a drop of 74.4% from the June 30th total of 46,274 shares. Based on an average daily trading volume, of 24,652 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

iShares U.S. Tech Independence Focused ETF Price Performance

IETC traded down $0.28 during trading on Monday, hitting $100.68. The company had a trading volume of 24,675 shares, compared to its average volume of 63,324. The company has a market cap of $724.90 million, a PE ratio of 37.47 and a beta of 1.18. The business has a 50-day moving average of $107.05 and a 200-day moving average of $100.09. iShares U.S. Tech Independence Focused ETF has a 1-year low of $84.32 and a 1-year high of $118.70.

Institutional Investors Weigh In On iShares U.S. Tech Independence Focused ETF

A number of institutional investors have recently modified their holdings of IETC. Financial Perspectives Inc increased its holdings in iShares U.S. Tech Independence Focused ETF by 1.3% in the fourth quarter. Financial Perspectives Inc now owns 10,859 shares of the company’s stock valued at $1,103,000 after buying an additional 137 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in iShares U.S. Tech Independence Focused ETF by 48.8% during the 4th quarter. Sound Income Strategies LLC now owns 442 shares of the company’s stock worth $45,000 after buying an additional 145 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of iShares U.S. Tech Independence Focused ETF by 25.0% in the 1st quarter. NewEdge Advisors LLC now owns 750 shares of the company’s stock worth $66,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of iShares U.S. Tech Independence Focused ETF by 6.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,217 shares of the company’s stock worth $331,000 after acquiring an additional 183 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of iShares U.S. Tech Independence Focused ETF by 3.8% in the 3rd quarter. Creative Planning now owns 5,464 shares of the company’s stock valued at $557,000 after acquiring an additional 199 shares during the last quarter.

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.