iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) Hits New 52-Week Low – Should You Sell?

iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $41.87 and last traded at $41.95, with a volume of 67129 shares. The stock had previously closed at $43.70.

iShares Cybersecurity and Tech ETF Stock Performance

The firm has a market cap of $829.70 million, a price-to-earnings ratio of 26.34 and a beta of 0.87. The stock’s fifty day moving average is $49.54 and its two-hundred day moving average is $49.63.

Hedge Funds Weigh In On iShares Cybersecurity and Tech ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IHAK. Bank of America Corp DE boosted its position in iShares Cybersecurity and Tech ETF by 16.0% during the 4th quarter. Bank of America Corp DE now owns 1,719,224 shares of the company’s stock worth $83,881,000 after acquiring an additional 236,973 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of iShares Cybersecurity and Tech ETF during the fourth quarter valued at about $3,890,000. BostonPremier Wealth LLC acquired a new stake in iShares Cybersecurity and Tech ETF in the fourth quarter worth about $3,513,000. Raymond James Financial Inc. bought a new position in iShares Cybersecurity and Tech ETF in the 4th quarter valued at about $2,547,000. Finally, Aprio Wealth Management LLC increased its stake in iShares Cybersecurity and Tech ETF by 62.9% during the 4th quarter. Aprio Wealth Management LLC now owns 71,202 shares of the company’s stock valued at $3,474,000 after buying an additional 27,483 shares during the period.

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.