iShares U.S. Tech Breakthrough Multisector ETF (NYSEARCA:TECB) Stock Price Down 1.8% – Here’s Why

iShares U.S. Tech Breakthrough Multisector ETF (NYSEARCA:TECB)’s share price were down 1.8% during mid-day trading on Monday . The company traded as low as $52.05 and last traded at $52.36. Approximately 25,535 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 39,361 shares. The stock had previously closed at $53.34.

iShares U.S. Tech Breakthrough Multisector ETF Stock Performance

The firm has a market cap of $429.35 million, a price-to-earnings ratio of 35.45 and a beta of 1.08. The business’s 50 day moving average price is $54.54 and its 200-day moving average price is $53.13.

Institutional Investors Weigh In On iShares U.S. Tech Breakthrough Multisector ETF

A number of institutional investors have recently modified their holdings of the stock. Ancora Advisors LLC raised its stake in shares of iShares U.S. Tech Breakthrough Multisector ETF by 1.3% in the 4th quarter. Ancora Advisors LLC now owns 20,722 shares of the company’s stock valued at $1,102,000 after purchasing an additional 267 shares in the last quarter. United Advisor Group LLC raised its stake in shares of iShares U.S. Tech Breakthrough Multisector ETF by 18.2% in the 3rd quarter. United Advisor Group LLC now owns 6,752 shares of the company’s stock valued at $346,000 after purchasing an additional 1,041 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of iShares U.S. Tech Breakthrough Multisector ETF in the 4th quarter valued at about $178,000. OLD Mission Capital LLC bought a new stake in shares of iShares U.S. Tech Breakthrough Multisector ETF during the 4th quarter valued at about $270,000. Finally, Ameriprise Financial Inc. grew its position in shares of iShares U.S. Tech Breakthrough Multisector ETF by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 137,286 shares of the company’s stock valued at $7,301,000 after buying an additional 12,490 shares during the last quarter.

About iShares U.S. Tech Breakthrough Multisector ETF

The iShares U.S. Tech Breakthrough Multisector ETF (TECB) is an exchange-traded fund that is based on the NYSE FactSet U.S. Tech Breakthrough index. The fund tracks an index of US equities that could benefit from breakthrough technologies, modified market cap weighted. TECB was launched on Jan 8, 2020 and is managed by BlackRock.