Financial Advocates Investment Management Cuts Stake in iShares Expanded Tech Sector ETF

Financial Advocates Investment Management has decreased its investment in the iShares Expanded Tech Sector ETF (NYSEARCA:IGM – Free Report) by 4.2% during the third quarter, as revealed in its latest filing with the Securities and Exchange Commission. By the end of the quarter, the firm held 2,825 shares of the exchange-traded fund after selling 124 shares.

As per the most recent filing, Financial Advocates Investment Management's holdings in the iShares Expanded Tech Sector ETF were valued at approximately $271,000.

In addition, various other institutional investors have either increased or decreased their stakes in the ETF. For instance, Signature Estate & Investment Advisors LLC significantly raised its holdings by 445.7% in the first quarter, acquiring 1,009,071 shares valued at $86,962,000 after purchasing an extra 824,164 shares during that period. Similarly, GM Advisory Group LLC increased its stake by 537.6%, now owning 287,719 shares worth $24,796,000 following an acquisition of 242,597 shares.

Stuart Chaussee & Associates Inc. also expanded its stake in the ETF by 489.1%, ending up with 236,766 shares valued at $20,404,000 after buying 196,572 shares. Another notable increase came from Janney Montgomery Scott LLC, which raised its position by 406.9%, owning now 204,773 shares worth $17,647,000 after acquiring an additional 164,378 shares. Lastly, Raymond James Financial Services Advisors Inc. raised its stake by 57.5% in the second quarter, accumulating 427,716 shares valued at $40,338,000 with an additional purchase of 156,117 shares.

Current Trading Activity of iShares Expanded Tech Sector ETF

As of Monday, the iShares Expanded Tech Sector ETF was trading at $96.14. The ETF has recorded a twelve-month low of $64.19 and a high of $99.64. With a market capitalization of $4.85 billion, it has a price-to-earnings ratio of 7.11 and a beta of 1.53. The fund's fifty-day moving average price stands at $94.70, and the 200-day moving average price is $91.74.

Overview of iShares Expanded Tech Sector ETF

The iShares North American Tech ETF, previously known as the iShares S&P North American Technology Sector Index Fund, is an exchange-traded fund aimed at providing investment results that align with the price and yield performance of U.S.-traded technology companies, represented by the S&P North American Technology Sector Index.

investment, ETF, management