iShares Global Tech ETF (NYSEARCA:IXN) Sets New 12-Month High – Time to Buy?

iShares Global Tech ETF (NYSEARCA:IXN)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $117.51 and last traded at $117.48, with a volume of 20335 shares. The stock had previously closed at $116.47.

iShares Global Tech ETF Price Performance

The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 34.73 and a beta of 1.26. The stock has a fifty day moving average of $105.73 and a 200 day moving average of $105.89.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IXN. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position 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 acquired a new position in iShares Global Tech ETF in the third quarter valued at approximately $31,504,000. Pictet Asset Management Holding SA lifted its holdings in iShares Global Tech ETF by 76.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 702,260 shares of the company’s stock valued at $74,454,000 after acquiring an additional 304,160 shares during the period. Bank of America Corp DE lifted its holdings in 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 acquiring an additional 191,600 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in 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 acquiring an additional 156,283 shares during the period.

About iShares Global Tech ETF

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.