iShares U.S. Technology ETF (NYSEARCA:IYW) Sees Large Volume Increase – Here’s Why

iShares U.S. Technology ETF (NYSEARCA:IYW) shares saw unusually-high trading volume on Thursday. Approximately 1,223,788 shares were traded during trading, an increase of 13% from the previous session’s volume of 1,082,268 shares. The stock last traded at $270.3790 and had previously closed at $271.51.

iShares U.S. Technology ETF Price Performance

The stock has a fifty day simple moving average of $254.68 and a two-hundred day simple moving average of $237.73. The firm has a market capitalization of $27.04 billion, a P/E ratio of 34.95 and a beta of 1.35.

Institutional Trading of iShares U.S. Technology ETF

Several hedge funds have recently modified their holdings of the stock. Ayalon Insurance Comp Ltd. acquired a new stake in iShares U.S. Technology ETF in the third quarter valued at approximately $5,149,000. American National Bank & Trust acquired a new position in shares of iShares U.S. Technology ETF during the third quarter worth approximately $174,000. Asempa Wealth Advisors lifted its holdings in shares of iShares U.S. Technology ETF by 8.4% in the 3rd quarter. Asempa Wealth Advisors now owns 8,209 shares of the exchange traded fund’s stock worth $2,190,000 after purchasing an additional 636 shares in the last quarter. Bangor Savings Bank bought a new position in shares of iShares U.S. Technology ETF in the 3rd quarter worth $42,000. Finally, RVW Wealth LLC grew its position in iShares U.S. Technology ETF by 16.8% in the 3rd quarter. RVW Wealth LLC now owns 104,891 shares of the exchange traded fund’s stock valued at $27,786,000 after purchasing an additional 15,114 shares during the period. Institutional investors own 57.65% of the company’s stock.

iShares U.S. Technology ETF Company Profile

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.