iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Sees Large Volume Increase – Still a Buy?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) shares saw strong trading volume on Thursday . 88,581 shares changed hands during trading, an increase of 22% from the previous session’s volume of 72,843 shares.The stock last traded at $50.03 and had previously closed at $49.42.

iShares Cybersecurity and Tech ETF Price Performance

The firm has a 50 day simple moving average of $49.88 and a 200-day simple moving average of $48.47. The company has a market cap of $892.98 million, a price-to-earnings ratio of 36.33 and a beta of 1.17.

Institutional Investors Weigh In On iShares Cybersecurity and Tech ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IHAK. First Horizon Advisors Inc. grew its stake in shares of iShares Cybersecurity and Tech ETF by 40.2% in the third quarter. First Horizon Advisors Inc. now owns 1,228 shares of the company’s stock valued at $60,000 after buying an additional 352 shares in the last quarter. Anchor Investment Management LLC grew its stake in iShares Cybersecurity and Tech ETF by 41.8% during the 2nd quarter. Anchor Investment Management LLC now owns 1,701 shares of the company’s stock worth $78,000 after purchasing an additional 501 shares in the last quarter. Sunbelt Securities Inc. grew its stake in iShares Cybersecurity and Tech ETF by 7.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,455 shares of the company’s stock worth $168,000 after purchasing an additional 225 shares in the last quarter. LRI Investments LLC acquired a new position in iShares Cybersecurity and Tech ETF during the 3rd quarter worth $194,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in iShares Cybersecurity and Tech ETF by 7.7% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 6,236 shares of the company’s stock worth $304,000 after purchasing an additional 445 shares in the last quarter.

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.