iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) Shares Up 2.1% – Should You Buy?

iShares MSCI China Multisector Tech ETF (NASDAQ:TCHI) shot up 2.1% during trading on Monday . The stock traded as high as $26.31 and last traded at $26.22. 48,483 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 29,115 shares. The stock had previously closed at $25.67.

iShares MSCI China Multisector Tech ETF Price Performance

The firm has a 50 day moving average price of $24.89 and a 200-day moving average price of $21.43. The firm has a market cap of $44.57 million, a price-to-earnings ratio of 17.30 and a beta of 0.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCHI. Mirae Asset Global Investments Co. Ltd. acquired a new position in iShares MSCI China Multisector Tech ETF in the 1st quarter worth $4,137,000. Flow Traders U.S. LLC acquired a new stake in iShares MSCI China Multisector Tech ETF during the second quarter worth approximately $1,281,000. Jane Street Group LLC acquired a new position in iShares MSCI China Multisector Tech ETF in the 2nd quarter valued at $328,000. Finally, Osaic Holdings Inc. boosted its holdings in iShares MSCI China Multisector Tech ETF by 10,956.3% in the 2nd quarter. Osaic Holdings Inc. now owns 1,769 shares of the company’s stock valued at $35,000 after purchasing an additional 1,753 shares during the period.

About iShares MSCI China Multisector Tech ETF

The iShares MSCI China Multisector Tech ETF (TCHI) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a market cap-weighted index of large- and mid-cap Chinese equities in technology and technology-related industries. TCHI was launched on Jan 25, 2022 and is managed by BlackRock.