iShares Global Clean Energy ETF (NASDAQ:ICLN) Reaches New 52-Week High – Should You Buy?

iShares Global Clean Energy ETF (NASDAQ:ICLN) shares reached a new 52-week high on Tuesday . The company traded as high as $21.09 and last traded at $20.76, with a volume of 7780429 shares traded. The stock had previously closed at $20.95.

iShares Global Clean Energy ETF Trading Up 0.1%

The company has a market cap of $2.58 billion, a price-to-earnings ratio of 17.16 and a beta of 1.04. The stock’s fifty day simple moving average is $18.83 and its 200 day simple moving average is $17.86.

Institutional Investors Weigh In On iShares Global Clean Energy ETF

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Minot DeBlois Advisors LLC lifted its position in iShares Global Clean Energy ETF by 1.6% during the fourth quarter. Minot DeBlois Advisors LLC now owns 39,205 shares of the company’s stock worth $644,000 after buying an additional 604 shares in the last quarter. Money Concepts Capital Corp grew its holdings in iShares Global Clean Energy ETF by 5.5% in the 1st quarter. Money Concepts Capital Corp now owns 12,575 shares of the company’s stock valued at $230,000 after buying an additional 650 shares in the last quarter. Cardinal Point Capital Management ULC increased its stake in shares of iShares Global Clean Energy ETF by 1.4% in the 4th quarter. Cardinal Point Capital Management ULC now owns 50,061 shares of the company’s stock worth $822,000 after acquiring an additional 696 shares during the last quarter. FWL Investment Management LLC increased its stake in shares of iShares Global Clean Energy ETF by 26.8% in the 3rd quarter. FWL Investment Management LLC now owns 3,310 shares of the company’s stock worth $51,000 after acquiring an additional 700 shares during the last quarter. Finally, Palisades Hudson Asset Management L.P. raised its holdings in shares of iShares Global Clean Energy ETF by 2.4% during the 3rd quarter. Palisades Hudson Asset Management L.P. now owns 32,055 shares of the company’s stock worth $496,000 after acquiring an additional 757 shares during the period.

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.