iShares Global Tech ETF (NYSEARCA:IXN) Sees Unusually-High Trading Volume – Still a Buy?

Shares of iShares Global Tech ETF (NYSEARCA:IXN) saw unusually-strong trading volume on Friday . Approximately 361,396 shares were traded during trading, an increase of 15% from the previous session’s volume of 313,221 shares.The stock last traded at $80.75 and had previously closed at $81.44.

iShares Global Tech ETF Stock Performance

The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 37.10 and a beta of 1.13. The firm’s 50-day moving average price is $85.51 and its two-hundred day moving average price is $83.53.

Hedge Funds Weigh In On iShares Global Tech ETF

Several hedge funds and other institutional investors have recently modified their holdings of IXN. Capital A Wealth Management LLC bought a new stake in shares of iShares Global Tech ETF in the 4th quarter worth about $111,000. Integrated Advisors Network LLC boosted its position in iShares Global Tech ETF by 37.5% in the fourth quarter. Integrated Advisors Network LLC now owns 4,929 shares of the company’s stock valued at $418,000 after buying an additional 1,345 shares in the last quarter. Ameriflex Group Inc. bought a new stake in iShares Global Tech ETF during the fourth quarter worth about $157,000. United Advisor Group LLC increased its holdings in shares of iShares Global Tech ETF by 8.3% during the fourth quarter. United Advisor Group LLC now owns 2,944 shares of the company’s stock worth $249,000 after buying an additional 225 shares in the last quarter. Finally, GTS Securities LLC raised its stake in shares of iShares Global Tech ETF by 104.4% in the fourth quarter. GTS Securities LLC now owns 19,514 shares of the company’s stock valued at $1,654,000 after acquiring an additional 9,967 shares during the last quarter.

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.