iShares Future AI & Tech ETF (NYSEARCA:ARTY) Sets New 52-Week High – Should You Buy?

iShares Future AI & Tech ETF (NYSEARCA:ARTY) reached a new 52-week high on Thursday . The company traded as high as $51.97 and last traded at $51.7850, with a volume of 2506 shares. The stock had previously closed at $51.36.

iShares Future AI & Tech ETF Price Performance

The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 32.81 and a beta of 1.20. The firm has a fifty day simple moving average of $48.47 and a 200 day simple moving average of $46.21.

Hedge Funds Weigh In On iShares Future AI & Tech ETF

A number of large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of iShares Future AI & Tech ETF by 744.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,206,214 shares of the company’s stock valued at $55,220,000 after purchasing an additional 1,063,439 shares during the last quarter. Hancock Prospecting Pty Ltd acquired a new stake in shares of iShares Future AI & Tech ETF in the 3rd quarter worth $48,307,000. Ameriprise Financial Inc. raised its holdings in shares of iShares Future AI & Tech ETF by 85.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,324,334 shares of the company’s stock worth $60,639,000 after acquiring an additional 608,816 shares during the period. Bank of America Corp DE boosted its position in shares of iShares Future AI & Tech ETF by 35.9% during the 3rd quarter. Bank of America Corp DE now owns 1,155,924 shares of the company’s stock valued at $52,918,000 after acquiring an additional 305,380 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of iShares Future AI & Tech ETF by 1,083.8% in the third quarter. Stratos Wealth Partners LTD. now owns 202,272 shares of the company’s stock valued at $9,260,000 after purchasing an additional 185,185 shares during the period.

iShares Future AI & Tech ETF Company Profile

The iShares Future AI & Tech ETF (ARTY) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a concentrated index of global companies that provide products and services that are expected to contribute to artificial intelligence technologies. Holdings are selected and weighted based on a modified market-cap. ARTY was launched on Jun 26, 2018 and is issued by BlackRock.