iShares Energy Storage & Materials ETF (NASDAQ:IBAT) Stock Price Up 0.6% – Still a Buy?

iShares Energy Storage & Materials ETF (NASDAQ:IBAT) shares traded up 0.6% during trading on Tuesday. The company traded as high as $40.54 and last traded at $40.37. 8,904 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 34,244 shares. The stock had previously closed at $40.12.

iShares Energy Storage & Materials ETF Stock Performance

The stock has a market capitalization of $62.98 million, a PE ratio of 18.48 and a beta of 1.58. The stock has a 50-day moving average price of $40.13 and a two-hundred day moving average price of $40.73.

Hedge Funds Weigh In On iShares Energy Storage & Materials ETF

A number of hedge funds have recently modified their holdings of IBAT. TD Waterhouse Canada Inc. bought a new stake in shares of iShares Energy Storage & Materials ETF during the 2nd quarter valued at $4,221,000. Citadel Advisors LLC lifted its stake in shares of iShares Energy Storage & Materials ETF by 5.9% during the 2nd quarter. Citadel Advisors LLC now owns 18,112 shares of the company’s stock valued at $816,000 after buying an additional 1,005 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in iShares Energy Storage & Materials ETF by 204.9% in the 2nd quarter. CoreCap Advisors LLC now owns 1,238 shares of the company’s stock worth $56,000 after buying an additional 832 shares during the period. CX Institutional bought a new position in iShares Energy Storage & Materials ETF in the 2nd quarter worth $80,000. Finally, Sanctuary Advisors LLC purchased a new stake in iShares Energy Storage & Materials ETF in the 1st quarter worth $230,000.

iShares Energy Storage & Materials ETF Company Profile

The iShares Energy Storage & Materials ETF (IBAT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a price-weighted index of companies involved in energy storage solutions around the globe. The fund seeks to provide long-term growth opportunities from companies involved in the transition to a low-carbon economy. IBAT was launched on Mar 19, 2024 and is issued by BlackRock.