5T Wealth LLC has drastically reduced its stake in the iShares U.S. Technology ETF (NYSEARCA: IYW – Free Report) by an alarming 65.6% during the third quarter, as revealed by its most recent SEC filings.
Following a divestiture of 4,245 shares, the fund now retains a mere 2,223 shares, which amounted to approximately $435,000 at the conclusion of the latest reporting period.
Other institutional investors have similarly adjusted their positions. Bell Investment Advisors Inc. initiated a new investment in the iShares U.S. Technology ETF in the second quarter, valued at around $25,000.
Harbor Asset Planning Inc. similarly acquired shares worth approximately $27,000 during the same period. Notably, Bogart Wealth LLC augmented its holdings by an impressive 189.3%, now owning 162 shares valued at $28,000 following the acquisition of an additional 106 shares.
In the third quarter, Abound Wealth Management secured a new stake, approximately worth $34,000. Lastly, Tsfg LLC expanded its position by 35.4%, resulting in ownership of 222 shares valued at $38,000 after procuring 58 additional shares. Collectively, institutional investors and hedge funds possess 57.65% of the company’s stock.
Stock Performance of iShares U.S. Technology ETF
Shares of IYW stock commenced trading at $202.92 on Monday. The firm’s market capitalization stands at $21.87 billion, with a price-to-earnings ratio of 34.95 and a beta of 1.23.
The iShares U.S. Technology ETF has recorded a one-year low of $117.55 and a high of $211.98. Its 50-day moving average price is $200.61, while the 200-day moving average sits at $189.00.
U.S. Technology ETF
The iShares U.S. Technology ETF, formerly known as the iShares Dow Jones U.S. Technology Sector Index Fund, is classified as a non-diversified fund.
Its objective is to deliver returns that generally correspond to the price and yield performance of the Dow Jones U.S. Technology Index (the Index), before fees and expenses.
This Index gauges the performance of the technology sector in the U.S. equity market, encompassing companies across industry segments such as software, computer services, and technology hardware and equipment.
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