iShares Global Clean Energy ETF (NASDAQ:ICLN) Reaches New 1-Year High – Time to Buy?

iShares Global Clean Energy ETF (NASDAQ:ICLN) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $20.04 and last traded at $19.94, with a volume of 883388 shares traded. The stock had previously closed at $19.40.

iShares Global Clean Energy ETF Stock Performance

The stock has a 50-day moving average price of $18.58 and a two-hundred day moving average price of $17.63. The stock has a market capitalization of $2.44 billion, a PE ratio of 17.16 and a beta of 0.98.

Hedge Funds Weigh In On iShares Global Clean Energy ETF

Several large investors have recently added to or reduced their stakes in ICLN. Nalls Sherbakoff Group LLC purchased a new stake in iShares Global Clean Energy ETF in the 4th quarter worth $25,000. Richards Merrill & Peterson Inc. purchased a new stake in iShares Global Clean Energy ETF in the 1st quarter worth $31,000. Bartlett & CO. Wealth Management LLC bought a new stake in shares of iShares Global Clean Energy ETF in the fourth quarter worth about $28,000. Triumph Capital Management purchased a new position in iShares Global Clean Energy ETF during the 3rd quarter valued at approximately $29,000. Finally, Manchester Capital Management LLC purchased a new stake in shares of iShares Global Clean Energy ETF during the 4th quarter worth approximately $33,000.

About iShares Global Clean Energy ETF

iShares Global Clean Energy ETF, formerly iShares S&P Global Clean Energy Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P Global Clean Energy Index. The S&P Global Clean Energy Index includes clean energy production companies, clean energy equipment and technology providers. The Fund operates in a range of sectors, which include electric utilities, semiconductors and semiconductor equipment, independent power producers and energy traders, commercial services and supplies, and electrical equipment.