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

Shares of iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) saw unusually-strong trading volume on Tuesday . Approximately 52,452 shares were traded during mid-day trading, a decline of 38% from the previous session’s volume of 84,326 shares.The stock last traded at $50.38 and had previously closed at $50.72.

iShares Cybersecurity and Tech ETF Trading Down 0.3 %

The firm has a market capitalization of $910.08 million, a P/E ratio of 36.33 and a beta of 1.17. The stock’s 50-day simple moving average is $50.19 and its 200-day simple moving average is $47.75.

Institutional Trading of iShares Cybersecurity and Tech ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Wharton Business Group LLC raised its position in iShares Cybersecurity and Tech ETF by 42.7% in the third quarter. Wharton Business Group LLC now owns 295,060 shares of the company’s stock worth $14,381,000 after acquiring an additional 88,300 shares during the period. Bank of Montreal Can increased its stake in shares of iShares Cybersecurity and Tech ETF by 180.5% during the 3rd quarter. Bank of Montreal Can now owns 128,147 shares of the company’s stock worth $6,214,000 after purchasing an additional 82,460 shares during the last quarter. Gimbal Financial bought a new stake in shares of iShares Cybersecurity and Tech ETF in the 3rd quarter worth approximately $3,753,000. Watts Gwilliam & Co. LLC purchased a new position in iShares Cybersecurity and Tech ETF in the third quarter valued at approximately $2,637,000. Finally, Aprio Wealth Management LLC bought a new position in iShares Cybersecurity and Tech ETF during the third quarter valued at $2,131,000.

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.