iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Hits New 52-Week High – Still a Buy?

iShares Expanded Tech Sector ETF (NYSEARCA:IGM) hit a new 52-week high on Wednesday . The company traded as high as $107.20 and last traded at $107.06, with a volume of 87855 shares changing hands. The stock had previously closed at $104.95.

iShares Expanded Tech Sector ETF Trading Up 2.1 %

The company’s 50-day moving average price is $103.00 and its two-hundred day moving average price is $97.23. The company has a market cap of $5.40 billion, a P/E ratio of 7.11 and a beta of 1.53.

Institutional Investors Weigh In On iShares Expanded Tech Sector ETF

Hedge funds have recently modified their holdings of the stock. AdvisorNet Financial Inc increased its holdings in shares of iShares Expanded Tech Sector ETF by 796.7% in the 4th quarter. AdvisorNet Financial Inc now owns 538 shares of the exchange traded fund’s stock valued at $55,000 after purchasing an additional 478 shares during the period. Assetmark Inc. acquired a new position in shares of iShares Expanded Tech Sector ETF in the third quarter worth $63,000. Creative Financial Designs Inc. ADV raised its holdings in shares of iShares Expanded Tech Sector ETF by 89.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,240 shares of the exchange traded fund’s stock worth $119,000 after acquiring an additional 585 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in iShares Expanded Tech Sector ETF during the third quarter valued at $145,000. Finally, Middleton & Co. Inc. MA purchased a new position in iShares Expanded Tech Sector ETF in the third quarter valued at about $201,000.

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).