iShares Global Tech ETF (NYSEARCA:IXN) Sees Significant Increase in Short Interest

iShares Global Tech ETF (NYSEARCA:IXN) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 955,816 shares, an increase of 41.1% from the March 15th total of 677,375 shares. Based on an average daily volume of 366,076 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IXN. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of iShares Global Tech ETF by 14,762.6% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 326,382 shares of the company’s stock worth $30,138,000 after acquiring an additional 324,186 shares in the last quarter. Sava Penzisko Drushtvo A.D. Skopje acquired a new position in shares of iShares Global Tech ETF during the 3rd quarter worth about $31,504,000. Pictet Asset Management Holding SA boosted its position in shares of iShares Global Tech ETF by 76.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 702,260 shares of the company’s stock worth $74,454,000 after acquiring an additional 304,160 shares in the last quarter. Bank of America Corp DE boosted its position in shares of iShares Global Tech ETF by 8.7% during the 2nd quarter. Bank of America Corp DE now owns 2,398,815 shares of the company’s stock worth $221,507,000 after acquiring an additional 191,600 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of iShares Global Tech ETF by 229.0% during the 4th quarter. HighTower Advisors LLC now owns 224,535 shares of the company’s stock worth $23,576,000 after acquiring an additional 156,283 shares in the last quarter.

iShares Global Tech ETF Price Performance

Shares of NYSEARCA IXN opened at $114.65 on Friday. The stock’s 50-day moving average is $105.35 and its two-hundred day moving average is $105.68. iShares Global Tech ETF has a 1-year low of $68.50 and a 1-year high of $114.89. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 34.73 and a beta of 1.26.

About iShares Global Tech ETF

iShares Global Tech ETF (the Fund), formerly iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 1200 Information Technology Sector Index (the Index). The Index measures the performance of companies that Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies (S&P) deems to be part of the information technology sector of the economy.