HighTower Advisors LLC Reduces Stake in iShares Global Tech ETF

HighTower Advisors LLC has reduced its stake in the iShares Global Tech ETF (NYSEARCA:IXN – Free Report) by 7.0% in the third quarter of 2024, according to a report from HoldingsChannel.com. The institutional investor now holds 66,416 shares of the ETF after selling 5,007 shares during this period. As of the end of the most recent reporting quarter, HighTower Advisors LLC’s holdings in the iShares Global Tech ETF were valued at approximately $5,478,000.

In addition to HighTower Advisors, other institutional investors and hedge funds have also made changes to their holdings in the iShares Global Tech ETF. NorthCrest Asset Management LLC acquired a new position in the ETF during the second quarter, with a valuation of $414,000. Similarly, Wealth Enhancement Advisory Services LLC increased its investment by 7.8% during the same quarter, bringing its total shares to 55,022, which are now valued at $4,557,000 after adding 3,989 shares.

Also noteworthy, ORG Partners LLC has purchased a new stake in the iShares Global Tech ETF worth approximately $60,000. SteelPeak Wealth LLC boosted its shares by 5.5%, now owning 3,050 shares valued at $253,000 after purchasing an additional 160 shares within the last quarter. Furthermore, 4J Wealth Management LLC raised its holdings by 1.6%, now possessing 26,225 shares, which are valued at about $2,172,000 after adding 425 shares.

Current Performance of iShares Global Tech ETF

As of Wednesday, shares of the iShares Global Tech ETF (NYSEARCA:IXN) opened at $85.41. Over the past year, the ETF has reached a low of $64.93 and a high of $88.10. The company's 50-day moving average stands at $83.32, while the 200-day moving average is $81.71. The market capitalization of the iShares Global Tech ETF is noted to be around $5.09 billion, with a PE ratio of 34.17 and a beta of 1.37, indicating its volatility relative to the market.

About iShares Global Tech ETF

The iShares Global Tech ETF, formerly known as iShares S&P Global Technology Sector Index Fund, is an exchange-traded fund. The ETF aims to provide investment results that closely mirror the price and yield performance of the S&P Global 1200 Information Technology Sector Index. This index evaluates the performance of companies that are classified by Standard & Poor’s Financial Services LLC as part of the information technology sector.

Investments, ETFs, Finance