iShares U.S. Technology ETF (NYSEARCA:IYW) Sees Large Volume Increase – Here’s Why

Shares of iShares U.S. Technology ETF (NYSEARCA:IYW) saw unusually-strong trading volume on Tuesday . Approximately 634,099 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 816,572 shares.The stock last traded at $144.36 and had previously closed at $146.70.

iShares U.S. Technology ETF Stock Down 1.3 %

The company has a market cap of $18.06 billion, a P/E ratio of 33.00 and a beta of 1.16. The firm has a 50 day moving average of $157.87 and a 200-day moving average of $156.39.

Institutional Trading of iShares U.S. Technology ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in iShares U.S. Technology ETF in the 4th quarter worth $256,146,000. LPL Financial LLC raised its stake in iShares U.S. Technology ETF by 23.7% in the 4th quarter. LPL Financial LLC now owns 5,111,322 shares of the exchange traded fund’s stock worth $815,358,000 after acquiring an additional 977,883 shares during the last quarter. Hsbc Holdings PLC raised its stake in iShares U.S. Technology ETF by 682.9% in the 4th quarter. Hsbc Holdings PLC now owns 763,232 shares of the exchange traded fund’s stock worth $121,751,000 after acquiring an additional 665,749 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in iShares U.S. Technology ETF in the 4th quarter worth $90,236,000. Finally, The Manufacturers Life Insurance Company raised its stake in iShares U.S. Technology ETF by 4,550.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 553,450 shares of the exchange traded fund’s stock worth $83,914,000 after acquiring an additional 541,550 shares during the last quarter.

About iShares U.S. Technology ETF

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index).