iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Unusually-High Trading Volume – Here’s Why

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) saw strong trading volume on Friday . 65,717 shares changed hands during trading, an increase of 22% from the previous session’s volume of 53,760 shares.The stock last traded at $48.88 and had previously closed at $49.23.

iShares Cybersecurity and Tech ETF Stock Down 0.8 %

The firm has a market cap of $879.30 million, a price-to-earnings ratio of 36.33 and a beta of 1.17. The company has a 50 day moving average of $49.94 and a 200 day moving average of $48.39.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wharton Business Group LLC grew its stake 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 purchasing an additional 88,300 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of iShares Cybersecurity and Tech ETF by 9.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 142,965 shares of the company’s stock valued at $6,569,000 after acquiring an additional 12,234 shares during the last quarter. Bank of Montreal Can raised its position 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 valued at $6,214,000 after acquiring an additional 82,460 shares in the last quarter. HighTower Advisors LLC lifted its stake in iShares Cybersecurity and Tech ETF by 0.7% during the third quarter. HighTower Advisors LLC now owns 117,339 shares of the company’s stock worth $5,697,000 after purchasing an additional 759 shares during the last quarter. Finally, Gimbal Financial acquired a new position in iShares Cybersecurity and Tech ETF in the third quarter worth $3,753,000.

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.