iShares Exponential Technologies ETF (NASDAQ:XT) Sets New 12-Month High – Here’s Why

Shares of iShares Exponential Technologies ETF (NASDAQ:XT) hit a new 52-week high on Wednesday . The stock traded as high as $77.53 and last traded at $77.36, with a volume of 59672 shares traded. The stock had previously closed at $76.58.

iShares Exponential Technologies ETF Price Performance

The company has a market cap of $3.90 billion, a PE ratio of 26.41 and a beta of 1.12. The company’s 50 day simple moving average is $71.26 and its two-hundred day simple moving average is $72.20.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC boosted its stake in iShares Exponential Technologies ETF by 2.9% during the first quarter. Sanctuary Advisors LLC now owns 4,967 shares of the company’s stock worth $338,000 after buying an additional 138 shares during the period. Valmark Advisers Inc. boosted its stake in iShares Exponential Technologies ETF by 3.9% during the first quarter. Valmark Advisers Inc. now owns 74,418 shares of the company’s stock worth $5,072,000 after buying an additional 2,776 shares during the period. Fifth Third Bancorp purchased a new position in iShares Exponential Technologies ETF during the first quarter worth about $331,000. Kestra Advisory Services LLC boosted its stake in iShares Exponential Technologies ETF by 8.5% during the first quarter. Kestra Advisory Services LLC now owns 107,352 shares of the company’s stock worth $7,316,000 after buying an additional 8,410 shares during the period. Finally, Root Financial Partners LLC boosted its stake in iShares Exponential Technologies ETF by 7.1% during the first quarter. Root Financial Partners LLC now owns 5,663 shares of the company’s stock worth $386,000 after buying an additional 377 shares during the period.

About iShares Exponential Technologies ETF

The iShares Exponential Technologies ETF (XT) is an exchange-traded fund that mostly invests in information technology equity. The fund tracks an equal-weighted index that provides exposure to firms from developed and emerging markets, which create or use exponential technologies as defined by Morningstar. XT was launched on Mar 19, 2015 and is managed by BlackRock.