iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sees Large Growth in Short Interest

iShares Expanded Tech Sector ETF (NYSEARCA:IGM) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 236,631 shares, a growth of 112.4% from the May 31st total of 111,408 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 762,475 shares, the short-interest ratio is presently 0.3 days.

iShares Expanded Tech Sector ETF Stock Performance

Shares of IGM traded down $2.57 during mid-day trading on Wednesday, reaching $161.01. The stock had a trading volume of 460,080 shares, compared to its average volume of 727,756. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 34.08 and a beta of 1.39. iShares Expanded Tech Sector ETF has a 12 month low of $110.66 and a 12 month high of $171.48. The business has a fifty day moving average of $156.00 and a 200 day moving average of $137.12.

Institutional Investors Weigh In On iShares Expanded Tech Sector ETF

Large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of iShares Expanded Tech Sector ETF by 101.6% in the third quarter. Bank of America Corp DE now owns 5,280,818 shares of the exchange traded fund’s stock valued at $665,119,000 after purchasing an additional 2,660,957 shares during the period. Raymond James Financial Inc. raised its position in iShares Expanded Tech Sector ETF by 393.9% during the 3rd quarter. Raymond James Financial Inc. now owns 2,879,177 shares of the exchange traded fund’s stock valued at $362,632,000 after purchasing an additional 2,296,259 shares in the last quarter. JPMorgan Chase & Co. raised its position in iShares Expanded Tech Sector ETF by 173.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,548,418 shares of the exchange traded fund’s stock valued at $329,154,000 after purchasing an additional 1,617,877 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of iShares Expanded Tech Sector ETF by 35.6% in the 3rd quarter. Bank of Montreal Can now owns 2,073,372 shares of the exchange traded fund’s stock worth $261,141,000 after buying an additional 544,007 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of iShares Expanded Tech Sector ETF by 12.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 777,520 shares of the exchange traded fund’s stock worth $97,856,000 after buying an additional 87,324 shares during the period.

iShares Expanded Tech Sector ETF Company Profile

iShares North American Tech ETF, formerly iShares S&P North American Technology Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, of the United States-traded technology companies, as represented by the S&P North American Technology Sector Index (the Index). The Index has been developed as an equity benchmark for the United States-traded, technology-related stocks. The Fund generally invests at least 90% of its assets in securities of the Index and in depositary receipts representing securities of the Index.