Saturday, July 13, 2024

Cooper Financial Group Decreases Holdings in iShares U.S. Technology ETF (NYSEARCA:IYW)

Cooper Financial Group Decreases Holdings in iShares U.S. Technology ETF (IYW)

Cooper Financial Group Sells Stake in iShares U.S. Technology ETF
Cooper Financial Group, a prominent investment firm, has recently decreased its holdings in the iShares U.S. Technology ETF (NYSEARCA:IYW). According to their most recent 13F filing with the Securities and Exchange Commission, the company sold 280 shares of the ETF, representing a 3.7% reduction in their position. At the end of the first quarter, Cooper Financial Group’s remaining holdings in the iShares U.S. Technology ETF were valued at $980,000.

This move by Cooper Financial Group comes amidst a flurry of activity in the ETF space, with several other institutional investors also making changes to their positions in the iShares U.S. Technology ETF. Envestnet Asset Management Inc., for example, increased its stake in the ETF by 38.6% during the fourth quarter, now owning over 10 million shares of the stock worth $1.3 billion. International Assets Investment Management LLC and Janney Montgomery Scott LLC also made notable investments in the ETF during the same period.

The iShares U.S. Technology ETF has seen impressive price performance in recent times, with shares opening at $150.37 on Monday. The ETF, which has a market capitalization of $18.47 billion, has a P/E ratio of 38.84 and a beta of 1.43. Its 50-day moving average is $138.14, and its 200-day moving average is $132.17. The ETF’s 1-year low stands at $100.84, while its high is $154.41.

iShares U.S. Technology ETF, formerly known as iShares Dow Jones U.S. Technology Sector Index Fund, seeks to mirror the price and yield performance of the Dow Jones U.S. Technology Index. The ETF is classified as non-diversified and offers investors exposure to the technology sector.

For more insights on hedge fund activity in iShares U.S. Technology ETF, interested parties can visit HoldingsChannel.com to access the latest 13F filings and insider trades related to the ETF.

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