iShares Global Tech ETF (NYSEARCA:IXN) Sees Large Volume Increase – Should You Buy?

iShares Global Tech ETF (NYSEARCA:IXN) saw unusually-high trading volume on Monday . Approximately 4,249,590 shares traded hands during mid-day trading, an increase of 1,128% from the previous session’s volume of 346,019 shares.The stock last traded at $132.03 and had previously closed at $132.08.

iShares Global Tech ETF Stock Down 1.4%

The company’s 50-day moving average is $112.07 and its two-hundred day moving average is $108.30. The company has a market cap of $8.47 billion, a P/E ratio of 34.73 and a beta of 1.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pictet Asset Management Holding SA raised its holdings in shares of iShares Global Tech ETF by 64.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,152,840 shares of the company’s stock worth $110,396,000 after purchasing an additional 450,580 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in iShares Global Tech ETF by 14,762.6% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 326,382 shares of the company’s stock valued at $30,138,000 after purchasing an additional 324,186 shares during the period. Sava Penzisko Drushtvo A.D. Skopje purchased a new stake in iShares Global Tech ETF in the third quarter worth $31,504,000. Bank of America Corp DE raised its stake in shares of iShares Global Tech ETF by 8.7% in the second quarter. Bank of America Corp DE now owns 2,398,815 shares of the company’s stock valued at $221,507,000 after buying an additional 191,600 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of iShares Global Tech ETF by 229.0% in the fourth quarter. HighTower Advisors LLC now owns 224,535 shares of the company’s stock valued at $23,576,000 after buying an additional 156,283 shares during the period.

iShares Global Tech ETF Company Profile

iShares Global Tech ETF (the Fund), formerly iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Information Technology Sector Index (the Index). The Index measures the performance of companies that Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies (S&P) deems to be part of the information technology sector of the economy.