HighTower Advisors LLC Reduces Stake in iShares Global Tech ETF

HighTower Advisors LLC has made adjustments to its investment in the iShares Global Tech ETF (NYSEARCA:IXN – Free Report), cutting its holdings by 7.0% during the third quarter of the year, according to HoldingsChannel.com. Following this sale, HighTower Advisors now owns 66,416 shares of the ETF, having sold 5,007 shares in the recent quarter. The total value of HighTower Advisors’ investments in the iShares Global Tech ETF stands at approximately $5,478,000 at the close of the latest reporting period.

Other institutional investors and hedge funds have been actively managing their positions in the iShares Global Tech ETF as well. Notably, NorthCrest Asset Management LLC has taken a new position in the ETF valued at $414,000 during the second quarter. Wealth Enhancement Advisory Services LLC has also increased its stake in the ETF by 7.8% in that same period, owning a total of 55,022 shares worth around $4,557,000 after acquiring an additional 3,989 shares. Additionally, ORG Partners LLC established a new position in the ETF valued at approximately $60,000, while SteelPeak Wealth LLC raised its holdings by 5.5%, now holding 3,050 shares worth $253,000 after adding 160 shares. Finally, 4J Wealth Management LLC boosted its investments by 1.6%, owning 26,225 shares now valued at about $2,172,000 after buying an extra 425 shares during the last quarter.

Current Trading Details of iShares Global Tech ETF

As of Wednesday, shares of iShares Global Tech ETF (NYSEARCA: IXN) opened at $85.41. Over the past year, this ETF has seen a low of $64.93 and a high of $88.10. The 50-day moving average for the ETF is currently $83.32, and the 200-day moving average is at $81.71. With a market capitalization of approximately $5.09 billion, the ETF has a price-to-earnings (P/E) ratio of 34.17 and a beta of 1.37, suggesting that it has a higher volatility compared to the overall market.

About iShares Global Tech ETF

The iShares Global Tech ETF, previously known as the iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund (ETF) that aims to match the investment results of the S&P Global 1200 Information Technology Sector Index. This index tracks the performance of companies identified by Standard & Poor’s Financial Services LLC as part of the information technology sector.

Final Thoughts

Investors interested in the iShares Global Tech ETF can monitor its performance and stay informed about changes made by large institutional investors. The presence of various hedge funds adjusting their stakes reflects the ongoing interest and strategic management around this ETF.

HighTower, Investors, ETFs