Dan IVES Wedbush AI Revolution ETF (NYSEARCA:IVES) Hits New 52-Week High – Here’s Why

Dan IVES Wedbush AI Revolution ETF (NYSEARCA:IVES)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $34.04 and last traded at $34.02, with a volume of 211408 shares trading hands. The stock had previously closed at $33.34.

Dan IVES Wedbush AI Revolution ETF Stock Up 2.1%

The firm has a market capitalization of $923.44 million, a price-to-earnings ratio of 27.36 and a beta of 1.74. The company’s 50 day moving average price is $31.05 and its 200 day moving average price is $34.80.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Griffin Asset Management Inc. acquired a new stake in shares of Dan IVES Wedbush AI Revolution ETF during the second quarter worth about $575,000. Marino Stram & Associates LLC acquired a new stake in Dan IVES Wedbush AI Revolution ETF during the 2nd quarter valued at approximately $261,000. Albion Financial Group UT purchased a new stake in shares of Dan IVES Wedbush AI Revolution ETF in the 2nd quarter valued at $27,000. JFS Wealth Advisors LLC acquired a new stake in shares of Dan IVES Wedbush AI Revolution ETF in the second quarter worth $35,000. Finally, MADDEN SECURITIES Corp acquired a new stake in shares of Dan IVES Wedbush AI Revolution ETF in the second quarter worth $538,000.

About Dan IVES Wedbush AI Revolution ETF

The Wedbush ETFMG Global Cloud Technology ETF (IVES) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks a market cap-weighted index of global equities related to cloud technology companies. IVES was launched on Mar 8, 2016 and is managed by ETF Managers Group.