iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sets New 52-Week High – Time to Buy?

Shares of iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) hit a new 52-week high on Friday. The stock traded as high as $69.44 and last traded at $69.3740, with a volume of 31995 shares trading hands. The stock had previously closed at $68.31.

iShares Cybersecurity and Tech ETF Trading Up 1.6%

The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 26.03 and a beta of 0.81. The company’s 50 day simple moving average is $64.55 and its 200-day simple moving average is $56.97.

Institutional Trading of iShares Cybersecurity and Tech ETF

Hedge funds have recently bought and sold shares of the company. Annex Advisory Services LLC acquired a new position in iShares Cybersecurity and Tech ETF in the 2nd quarter valued at $28,915,000. Warner Financial Inc. boosted its holdings in shares of iShares Cybersecurity and Tech ETF by 87.4% during the second quarter. Warner Financial Inc. now owns 9,850 shares of the company’s stock worth $598,000 after purchasing an additional 4,595 shares during the last quarter. Western Wealth Management LLC grew its position in shares of iShares Cybersecurity and Tech ETF by 16.9% in the first quarter. Western Wealth Management LLC now owns 6,324 shares of the company’s stock valued at $276,000 after purchasing an additional 913 shares during the period. Royal Bank of Canada increased its stake in iShares Cybersecurity and Tech ETF by 4.0% in the first quarter. Royal Bank of Canada now owns 141,754 shares of the company’s stock valued at $6,187,000 after purchasing an additional 5,511 shares during the last quarter. Finally, Waverly Advisors LLC purchased a new position in iShares Cybersecurity and Tech ETF during the first quarter worth about $44,000.

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.