iShares Future AI & Tech ETF (NYSEARCA:ARTY) Hits New 52-Week High – Still a Buy?

iShares Future AI & Tech ETF (NYSEARCA:ARTY)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $63.89 and last traded at $63.89, with a volume of 2320 shares changing hands. The stock had previously closed at $62.82.

iShares Future AI & Tech ETF Stock Performance

The business’s 50 day moving average is $51.96 and its 200-day moving average is $50.26. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 32.81 and a beta of 1.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARTY. Northwestern Mutual Wealth Management Co. grew its stake in iShares Future AI & Tech ETF by 744.8% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,206,214 shares of the company’s stock valued at $55,220,000 after buying an additional 1,063,439 shares during the last quarter. Hancock Prospecting Pty Ltd acquired a new stake in iShares Future AI & Tech ETF in the 3rd quarter worth $48,307,000. Ameriprise Financial Inc. grew its position in iShares Future AI & Tech ETF by 85.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,324,334 shares of the company’s stock worth $60,639,000 after purchasing an additional 608,816 shares during the last quarter. Assetmark Inc. grew its position in iShares Future AI & Tech ETF by 1,433.3% in the 4th quarter. Assetmark Inc. now owns 631,409 shares of the company’s stock worth $30,421,000 after purchasing an additional 590,228 shares during the last quarter. Finally, Bank of America Corp DE grew its position in iShares Future AI & Tech ETF by 35.9% in the 3rd quarter. Bank of America Corp DE now owns 1,155,924 shares of the company’s stock worth $52,918,000 after purchasing an additional 305,380 shares during the last quarter.

About iShares Future AI & Tech ETF

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.