iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Unusually-High Trading Volume – Still a Buy?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) saw strong trading volume on Tuesday. Approximately 314,089 shares were traded during trading, an increase of 74% from the previous session’s volume of 180,614 shares. The stock last traded at $67.7890 and had previously closed at $67.46.

iShares Cybersecurity and Tech ETF Stock Performance

The company has a market capitalization of $1.17 billion, a PE ratio of 26.03 and a beta of 0.80. The stock’s fifty day simple moving average is $66.32 and its 200-day simple moving average is $59.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Waverly Advisors LLC acquired a new position in iShares Cybersecurity and Tech ETF in the 1st quarter worth about $44,000. Bessemer Group Inc. bought a new position in shares of iShares Cybersecurity and Tech ETF in the first quarter valued at about $65,000. Triumph Capital Management bought a new position in iShares Cybersecurity and Tech ETF in the third quarter valued at approximately $67,000. Activest Wealth Management acquired a new position in shares of iShares Cybersecurity and Tech ETF in the 3rd quarter valued at $88,000. Finally, Planning Strategies Inc. bought a new position in iShares Cybersecurity and Tech ETF during the 3rd quarter worth about $105,000.

About iShares Cybersecurity and Tech ETF

The iShares Cybersecurity and Tech ETF (IHAK) is an exchange-traded fund that is based on the NYSE FactSet Global Cyber Security index. The fund tracks a market cap-selected and -weighted index of large- and mid-cap companies involved in cyber hardware and software. IHAK was launched on Jun 11, 2019 and is managed by BlackRock.