Financial Advocates Investment Management Reduces Position in iShares Expanded Tech Sector ETF

Financial Advocates Investment Management has reduced its stake in the iShares Expanded Tech Sector ETF (NYSEARCA:IGM) by 4.2% during the third quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). After selling 124 shares during the quarter, the firm now holds 2,825 shares of the fund. This reduction brings the total value of its holdings in the iShares Expanded Tech Sector ETF to approximately $271,000.

Other institutional investors have also been active with their stakes in the iShares Expanded Tech Sector ETF. For instance, Signature Estate & Investment Advisors LLC increased its holdings by a remarkable 445.7% during the first quarter, reaching a total of 1,009,071 shares valued at about $86.96 million after adding 824,164 shares. GM Advisory Group LLC also grew its investment by 537.6% in the same quarter, accumulating 287,719 shares worth approximately $24.80 million following a purchase of an additional 242,597 shares. Furthermore, Stuart Chaussee & Associates Inc. raised its stake by 489.1%, owning 236,766 shares worth $20.40 million after buying 196,572 shares. Additionally, Janney Montgomery Scott LLC saw a 406.9% increase in its position, now owning 204,773 shares valued at around $17.65 million after acquiring 164,378 shares. Raymond James Financial Services Advisors Inc. also increased its holdings by 57.5% in the second quarter, now owning 427,716 shares valued at $40.34 million after acquiring another 156,117 shares.

Performance of iShares Expanded Tech Sector ETF

The iShares Expanded Tech Sector ETF is currently trading at $96.14. Throughout the past year, the ETF has reached a low of $64.19 and a high of $99.64. It has a market capitalization of approximately $4.85 billion, demonstrating strong interest in the tech sector. With a price-to-earnings ratio of 7.11 and a beta of 1.53, the ETF continues to show volatility. It has recorded a fifty-day moving average price of $94.70 and a 200-day moving average price of $91.74.

About iShares Expanded Tech Sector ETF

The iShares Expanded Tech Sector ETF aims to reflect the performance of the technology sector in North America. The fund's goal is to achieve investment results that correspond to the performance of technology companies traded in the U.S., as represented by the S&P North American Technology Sector Index.

investment, ETF, stocks