iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Sees Unusually-High Trading Volume – Should You Buy?

Shares of iShares Expanded Tech Sector ETF (NYSEARCA:IGM) saw unusually-strong trading volume on Thursday. Approximately 1,640,806 shares traded hands during trading, an increase of 189% from the average daily volume of 568,167 shares. The stock last traded at $142.8980 and had previously closed at $150.80.

iShares Expanded Tech Sector ETF Stock Performance

The business has a fifty day moving average of $163.42 and a two-hundred day moving average of $148.53. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 34.08 and a beta of 1.42.

Hedge Funds Weigh In On iShares Expanded Tech Sector ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. WestEnd Advisors LLC bought a new stake in iShares Expanded Tech Sector ETF during the third quarter worth $119,706,000. Commonwealth Equity Services LLC bought a new position in shares of iShares Expanded Tech Sector ETF in the 3rd quarter valued at $81,230,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of iShares Expanded Tech Sector ETF in the 3rd quarter valued at $60,391,000. Lido Advisors LLC bought a new position in shares of iShares Expanded Tech Sector ETF in the 3rd quarter valued at $38,725,000. Finally, Seven Bridges Advisors LLC acquired a new position in shares of iShares Expanded Tech Sector ETF during the 3rd quarter worth $25,928,000.

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.