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iShares Cybersecurity ETF hits year-long high with 27.6% surge

EditorPollock Mondal
Published 11/22/2023, 06:48 AM
Updated 11/22/2023, 06:48 AM
© Reuters.

The iShares Cybersecurity and Tech ETF (NYSEARCA:IHAK) has witnessed a significant uptick, reaching a year-long zenith today, with shares soaring 27.6% from their lowest value of $31.87. This rally represents a notable performance in the cybersecurity sector, reflecting investor confidence and growing interest in the industry.

IHAK offers investors exposure to a diversified portfolio of companies, both from developed and emerging markets, that provide cybersecurity services. The fund has particularly focused on sectors such as cloud security, which is seeing increased investment due to the escalating threat of cyberattacks and the integration of artificial intelligence into corporate systems.

With an operating expense ratio set at 0.47%, or 47 basis points annually, IHAK's current upward movement is further highlighted by its weighted alpha of 19.17. This metric indicates the ETF's potential for continued market performance growth, suggesting that the cybersecurity sector may maintain its positive trajectory moving forward.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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