iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Strong Trading Volume – Here’s Why

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) saw unusually-high trading volume on Tuesday . Approximately 93,193 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 75,566 shares.The stock last traded at $49.1880 and had previously closed at $49.63.

iShares Cybersecurity and Tech ETF Stock Performance

The stock has a 50-day moving average of $50.61 and a two-hundred day moving average of $51.43. The company has a market cap of $882.04 million, a P/E ratio of 26.03 and a beta of 0.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of iShares Cybersecurity and Tech ETF by 0.8% during the third quarter. Bank of America Corp DE now owns 1,846,910 shares of the company’s stock valued at $96,649,000 after buying an additional 15,129 shares during the last quarter. Sava Penzisko Drushtvo A.D. Skopje purchased a new position in iShares Cybersecurity and Tech ETF in the third quarter worth about $16,709,000. Scotia Capital Inc. increased its position in iShares Cybersecurity and Tech ETF by 13.1% during the third quarter. Scotia Capital Inc. now owns 153,529 shares of the company’s stock valued at $8,034,000 after acquiring an additional 17,803 shares during the last quarter. Osaic Holdings Inc. lifted its stake in iShares Cybersecurity and Tech ETF by 189.4% in the second quarter. Osaic Holdings Inc. now owns 146,412 shares of the company’s stock worth $7,793,000 after purchasing an additional 95,827 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of iShares Cybersecurity and Tech ETF by 4.1% during the second quarter. Ameriprise Financial Inc. now owns 141,667 shares of the company’s stock valued at $7,534,000 after purchasing an additional 5,560 shares during the period.

iShares Cybersecurity and Tech ETF Company Profile

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.