VanEck Robotics ETF (NASDAQ:IBOT) Stock Price Up 1.1% – Still a Buy?

VanEck Robotics ETF (NASDAQ:IBOT)’s share price rose 1.1% on Tuesday . The company traded as high as $68.39 and last traded at $67.92. 7,869 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 19,001 shares. The stock had previously closed at $67.15.

VanEck Robotics ETF Trading Up 0.5%

The company has a fifty day moving average of $65.71 and a 200-day moving average of $61.62. The company has a market capitalization of $103.58 million, a price-to-earnings ratio of 27.21 and a beta of 1.37.

Hedge Funds Weigh In On VanEck Robotics ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Accel Wealth Management increased its position in shares of VanEck Robotics ETF by 30.4% during the second quarter. Accel Wealth Management now owns 14,667 shares of the company’s stock worth $1,009,000 after purchasing an additional 3,420 shares in the last quarter. First Heartland Consultants Inc. acquired a new position in VanEck Robotics ETF in the 2nd quarter valued at $420,000. Finally, Jane Street Group LLC purchased a new position in VanEck Robotics ETF in the 1st quarter valued at $256,000.

About VanEck Robotics ETF

The Vaneck Robotics ETF (IBOT) is an exchange-traded fund that is based on the BlueStar Robotics index. The fund tracks an index designed to provide exposure to companies involved in early adoption of commercial and industrial robotics, globally. Stocks are selected based on the amount of revenue tied to the theme IBOT was launched on Apr 5, 2023 and is managed by VanEck.