iShares Future AI & Tech ETF (NYSEARCA:ARTY) Hits New 12-Month High – Still a Buy?

Shares of iShares Future AI & Tech ETF (NYSEARCA:ARTY) hit a new 52-week high during trading on Tuesday . The company traded as high as $70.94 and last traded at $70.84, with a volume of 64401 shares trading hands. The stock had previously closed at $68.78.

iShares Future AI & Tech ETF Stock Up 4.0%

The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 32.81 and a beta of 1.46. The business’s 50 day simple moving average is $57.10 and its 200 day simple moving average is $52.11.

Institutional Trading of iShares Future AI & Tech ETF

A number of hedge funds have recently modified their holdings of the stock. Western Wealth Management LLC lifted its stake in shares of iShares Future AI & Tech ETF by 55.0% during the 1st quarter. Western Wealth Management LLC now owns 7,145 shares of the company’s stock worth $332,000 after buying an additional 2,536 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of iShares Future AI & Tech ETF by 2.5% during the 1st quarter. Bank of America Corp DE now owns 1,378,580 shares of the company’s stock worth $64,145,000 after buying an additional 33,575 shares during the last quarter. Alexander Labrunerie & CO. Inc. lifted its stake in shares of iShares Future AI & Tech ETF by 7.9% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 110,731 shares of the company’s stock worth $5,152,000 after buying an additional 8,066 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of iShares Future AI & Tech ETF by 1.1% during the 1st quarter. Arkadios Wealth Advisors now owns 32,232 shares of the company’s stock worth $1,500,000 after buying an additional 337 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of iShares Future AI & Tech ETF by 12.2% during the 1st quarter. Royal Bank of Canada now owns 198,243 shares of the company’s stock worth $9,225,000 after buying an additional 21,583 shares during the last quarter.

iShares Future AI & Tech ETF Company Profile

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.