iShares Future AI & Tech ETF (NYSEARCA:ARTY) Sets New 1-Year High – Here’s Why

iShares Future AI & Tech ETF (NYSEARCA:ARTY) shares reached a new 52-week high during trading on Monday . The company traded as high as $63.89 and last traded at $63.89, with a volume of 2320 shares. The stock had previously closed at $62.82.

iShares Future AI & Tech ETF Stock Performance

The stock has a market capitalization of $3.01 billion, a PE ratio of 32.81 and a beta of 1.46. The company’s fifty day simple moving average is $52.24 and its two-hundred day simple moving average is $50.37.

Institutional Investors Weigh In On iShares Future AI & Tech ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its holdings in shares of iShares Future AI & Tech ETF by 9.9% in the fourth quarter. Morgan Stanley now owns 2,610,430 shares of the company’s stock worth $125,771,000 after acquiring an additional 234,478 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in iShares Future AI & Tech ETF by 73.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,094,259 shares of the company’s stock worth $100,901,000 after purchasing an additional 888,045 shares in the last quarter. Ameriprise Financial Inc. increased its position in 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 purchasing an additional 608,816 shares in the last quarter. Bank of America Corp DE raised its stake in iShares Future AI & Tech ETF by 35.9% in 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 purchasing an additional 305,380 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in iShares Future AI & Tech ETF by 13.4% in the 4th quarter. LPL Financial LLC now owns 1,112,697 shares of the company’s stock valued at $53,610,000 after purchasing an additional 131,297 shares in the last quarter.

About iShares Future AI & Tech ETF

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.