Merit Financial Group LLC Lowers Stock Holdings in iShares U.S. Technology ETF $IYW

Merit Financial Group LLC cut its stake in shares of iShares U.S. Technology ETF (NYSEARCA:IYW) by 56.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,137 shares of the exchange traded fund’s stock after selling 135,034 shares during the period. Merit Financial Group LLC owned approximately 0.10% of iShares U.S. Technology ETF worth $20,592,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lee Johnson Capital Management LLC purchased a new stake in shares of iShares U.S. Technology ETF during the third quarter worth approximately $1,383,000. TBH Global Asset Management LLC purchased a new position in iShares U.S. Technology ETF during the 3rd quarter worth $637,000. Oak Asset Management LLC acquired a new stake in shares of iShares U.S. Technology ETF in the 3rd quarter worth $205,000. Lewis Asset Management LLC increased its stake in shares of iShares U.S. Technology ETF by 7.9% during the third quarter. Lewis Asset Management LLC now owns 8,981 shares of the exchange traded fund’s stock worth $1,759,000 after acquiring an additional 659 shares during the period. Finally, Kingsman Wealth Management Inc. raised its holdings in iShares U.S. Technology ETF by 12.4% during the third quarter. Kingsman Wealth Management Inc. now owns 30,737 shares of the exchange traded fund’s stock worth $6,020,000 after purchasing an additional 3,388 shares in the last quarter. 57.65% of the stock is owned by institutional investors and hedge funds.

iShares U.S. Technology ETF Trading Down 0.1%

Shares of IYW opened at $190.54 on Tuesday. The stock’s 50 day moving average is $198.85 and its two-hundred day moving average is $195.23. iShares U.S. Technology ETF has a twelve month low of $117.55 and a twelve month high of $211.98. The firm has a market capitalization of $19.94 billion, a PE ratio of 34.95 and a beta of 1.23.

iShares U.S. Technology ETF Profile

iShares U.S. Technology ETF, formerly iShares Dow Jones U.S. Technology Sector Index Fund (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology sector of the United States equity market, and includes companies in the industry groups, such as software and computer services and technology hardware and equipment.