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 large drop in short interest during the month of October. As of October 15th, there was short interest totaling 322 shares, a drop of 55.8% from the September 30th total of 728 shares. Based on an average daily volume of 13,543 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

iShares U.S. Tech Independence Focused ETF Price Performance

BATS IETC opened at $102.17 on Friday. The business’s fifty day moving average is $110.72 and its 200-day moving average is $103.35. The stock has a market capitalization of $735.62 million, a price-to-earnings ratio of 37.47 and a beta of 1.18. iShares U.S. Tech Independence Focused ETF has a one year low of $84.32 and a one year high of $119.00.

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

A number of large investors have recently added to or reduced their stakes in IETC. Gradient Investments LLC grew its position in shares of iShares U.S. Tech Independence Focused ETF by 18.4% during the 2nd quarter. Gradient Investments LLC now owns 858,000 shares of the company’s stock valued at $92,106,000 after acquiring an additional 133,543 shares during the period. Hoese & Co LLP raised its holdings in shares of iShares U.S. Tech Independence Focused ETF by 1.5% in the 3rd quarter. Hoese & Co LLP now owns 77,940 shares of the company’s stock worth $8,897,000 after purchasing an additional 1,181 shares during the period. Oakwell Private Wealth Management LLC raised its holdings in shares of iShares U.S. Tech Independence Focused ETF by 101.3% in the 1st quarter. Oakwell Private Wealth Management LLC now owns 52,534 shares of the company’s stock worth $4,643,000 after purchasing an additional 26,434 shares during the period. Royal Bank of Canada raised its holdings in shares of iShares U.S. Tech Independence Focused ETF by 84.7% in the 1st quarter. Royal Bank of Canada now owns 40,924 shares of the company’s stock worth $3,617,000 after purchasing an additional 18,763 shares during the period. Finally, Citadel Advisors LLC raised its holdings in shares of iShares U.S. Tech Independence Focused ETF by 170.2% in the 2nd quarter. Citadel Advisors LLC now owns 38,686 shares of the company’s stock worth $4,153,000 after purchasing an additional 24,370 shares during the period.

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.