The iShares U.S. Aerospace & Defense ETF (ITA) experienced a notable uptick, driven by several developments in the defense sector. On November 27, 2024, the U.S. Air Force announced its pursuit of a new regional airlifter that would enhance its airlift capabilities without relying on traditional runways. This initiative, known as the Runway Independent Mobility/Next Generation Intra-theatre Airlift (NGIA), aims to bolster the Air Force's operational flexibility and is expected to stimulate interest and investment in innovative aerospace technologies. Additionally, the U.S. Army's recent contract with Dynetics, valued at up to $4.1 billion, for the Indirect Fire Protection Capability Increment 2 system, underscores the ongoing commitment to strengthening air and missile defense capabilities. These developments highlight the robust demand for advanced defense systems and technologies, which are key components of the ETF's underlying assets.
The ITA ETF closed at $153.86, reflecting a 0.54% decrease during the trading day, but it has risen by 0.64% in after-hours trading, reaching a current price of $154.85 as of 7:21 PM ET on Wednesday, November 27th.