iShares U.S. Tech Independence Focused ETF (BATS:IETC) Sees Significant Drop in Short Interest

iShares U.S. Tech Independence Focused ETF (BATS:IETC) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 6,905 shares, a drop of 41.7% from the July 15th total of 11,843 shares. Based on an average daily volume of 76,962 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Trading of iShares U.S. Tech Independence Focused ETF

Hedge funds have recently made changes to their positions in the company. Financial Perspectives Inc grew its stake in shares of iShares U.S. Tech Independence Focused ETF by 1.3% during the 4th quarter. Financial Perspectives Inc now owns 10,859 shares of the company’s stock worth $1,103,000 after purchasing an additional 137 shares during the period. NewEdge Advisors LLC increased its holdings 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 valued at $66,000 after purchasing an additional 150 shares in the last quarter. Creative Planning lifted its stake in shares of iShares U.S. Tech Independence Focused ETF by 3.8% in the third quarter. Creative Planning now owns 5,464 shares of the company’s stock valued at $557,000 after purchasing an additional 199 shares during the period. Harbour Investments Inc. lifted its stake in shares of iShares U.S. Tech Independence Focused ETF by 219.8% in the fourth quarter. Harbour Investments Inc. now owns 291 shares of the company’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Finally, Sigma Planning Corp boosted its holdings in iShares U.S. Tech Independence Focused ETF by 2.1% during the fourth quarter. Sigma Planning Corp now owns 12,351 shares of the company’s stock worth $1,255,000 after buying an additional 258 shares in the last quarter.

iShares U.S. Tech Independence Focused ETF Price Performance

BATS:IETC opened at $109.25 on Wednesday. The firm’s fifty day moving average price is $105.94 and its 200 day moving average price is $100.79. iShares U.S. Tech Independence Focused ETF has a 1-year low of $84.32 and a 1-year high of $118.70. The firm has a market cap of $786.60 million, a price-to-earnings ratio of 37.47 and a beta of 1.18.

iShares U.S. Tech Independence Focused ETF Company Profile

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.