iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Strong Trading Volume – What’s Next?

Shares of iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) saw unusually-strong trading volume on Friday . Approximately 283,925 shares were traded during mid-day trading, an increase of 47% from the previous session’s volume of 193,075 shares.The stock last traded at $42.32 and had previously closed at $43.43.

iShares Cybersecurity and Tech ETF Stock Down 3.4%

The firm has a market cap of $688.31 million, a P/E ratio of 26.03 and a beta of 0.76. The firm’s 50-day simple moving average is $44.38 and its 200 day simple moving average is $48.09.

Institutional Trading of iShares Cybersecurity and Tech ETF

Several hedge funds have recently added to or reduced their stakes in IHAK. NewEdge Advisors LLC raised its position in iShares Cybersecurity and Tech ETF by 4.9% in the first quarter. NewEdge Advisors LLC now owns 8,318 shares of the company’s stock worth $391,000 after acquiring an additional 390 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of iShares Cybersecurity and Tech ETF by 63.4% in the first quarter. Goldman Sachs Group Inc. now owns 52,553 shares of the company’s stock worth $2,469,000 after purchasing an additional 20,390 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of iShares Cybersecurity and Tech ETF in the first quarter valued at approximately $2,255,000. Baird Financial Group Inc. raised its position in shares of iShares Cybersecurity and Tech ETF by 49.7% in the second quarter. Baird Financial Group Inc. now owns 51,752 shares of the company’s stock valued at $2,754,000 after purchasing an additional 17,184 shares during the period. Finally, Brown Advisory Inc. bought a new stake in shares of iShares Cybersecurity and Tech ETF in the second quarter valued at approximately $216,000.

iShares Cybersecurity and Tech ETF Company Profile

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.