iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Large Volume Increase – Still a Buy?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) shares saw unusually-strong trading volume on Tuesday . Approximately 476,055 shares traded hands during mid-day trading, an increase of 434% from the previous session’s volume of 89,126 shares.The stock last traded at $50.36 and had previously closed at $50.42.

iShares Cybersecurity and Tech ETF Stock Performance

The company has a market capitalization of $903.96 million, a price-to-earnings ratio of 36.33 and a beta of 1.17. The business has a 50 day moving average price of $48.33 and a 200-day moving average price of $46.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in iShares Cybersecurity and Tech ETF by 6.4% in the second quarter. Commonwealth Equity Services LLC now owns 157,362 shares of the company’s stock worth $7,231,000 after acquiring an additional 9,509 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of iShares Cybersecurity and Tech ETF by 9.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 142,965 shares of the company’s stock valued at $6,569,000 after purchasing an additional 12,234 shares in the last quarter. Lincoln National Corp lifted its holdings in shares of iShares Cybersecurity and Tech ETF by 5.2% in the first quarter. Lincoln National Corp now owns 75,373 shares of the company’s stock valued at $3,531,000 after purchasing an additional 3,707 shares in the last quarter. Nelson Capital Management LLC lifted its holdings in shares of iShares Cybersecurity and Tech ETF by 10.2% in the second quarter. Nelson Capital Management LLC now owns 71,831 shares of the company’s stock valued at $3,301,000 after purchasing an additional 6,642 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of iShares Cybersecurity and Tech ETF during the third quarter valued at approximately $2,637,000.

About iShares Cybersecurity and Tech ETF

The iShares Cybersecurity and Tech ETF (IHAK) is an exchange-traded fund that is based on the NYSE FactSet Global Cyber Security index. The fund tracks a market cap-selected and -weighted index of large- and mid-cap companies involved in cyber hardware and software. IHAK was launched on Jun 11, 2019 and is managed by BlackRock.