HighTower Advisors LLC Reduces Shares in iShares Global Tech ETF
HighTower Advisors LLC has reduced its ownership in the iShares Global Tech ETF (NYSEARCA:IXN) by 7.0% during the third quarter, according to reports. After selling 5,007 shares in the quarter, the institutional investor holds a total of 66,416 shares in the ETF, with a total value of approximately $5,478,000 at the close of the latest reporting period.
Additionally, several other institutional investors and hedge funds have made adjustments to their positions in iShares Global Tech ETF. For instance, NorthCrest Asset Management LLC initiated a new investment in the ETF in the second quarter, worth about $414,000. Wealth Enhancement Advisory Services LLC increased its holdings by 7.8% during the same quarter, bringing its total ownership to 55,022 shares valued at $4,557,000 after acquiring an additional 3,989 shares. ORG Partners LLC also entered a new stake in the ETF during the second quarter, estimated at about $60,000. Furthermore, SteelPeak Wealth LLC raised its holdings by 5.5%, now owning 3,050 shares worth $253,000 after adding 160 shares. In addition, 4J Wealth Management LLC increased its stake by 1.6%, totaling 26,225 shares valued at $2,172,000 after purchasing 425 more shares in the previous quarter.
Performance of iShares Global Tech ETF
As of Wednesday, shares of iShares Global Tech ETF traded down 1.0%, opening at $85.41. The ETF has seen a one-year low of $64.93 and a one-year high of $88.10. The 50-day moving average for the ETF stands at $83.32, while its 200-day moving average is $81.71. The market capitalization of the ETF is approximately $5.09 billion, with a price-to-earnings (PE) ratio of 34.17 and a beta of 1.37.
About iShares Global Tech ETF
The iShares Global Tech ETF, previously known as the iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF) that aims to mirror the performance of the S&P Global 1200 Information Technology Sector Index. This index tracks the performance of companies identified by Standard & Poor’s Financial Services as part of the technology sector of the economy.
HighTower, iShares, ETF