iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) Reaches New 1-Year High – Here’s Why

Shares of iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $35.50 and last traded at $35.50, with a volume of 52003 shares changing hands. The stock had previously closed at $34.93.

iShares Robotics and Artificial Intelligence Multisector ETF Price Performance

The company has a 50 day simple moving average of $33.16 and a 200-day simple moving average of $33.35. The stock has a market cap of $713.59 million, a P/E ratio of 20.73 and a beta of 1.45.

Hedge Funds Weigh In On iShares Robotics and Artificial Intelligence Multisector ETF

Hedge funds have recently bought and sold shares of the business. PVG Asset Management Corp purchased a new stake in shares of iShares Robotics and Artificial Intelligence Multisector ETF in the fourth quarter worth about $368,000. Tsfg LLC lifted its position in shares of iShares Robotics and Artificial Intelligence Multisector ETF by 268.7% in the 1st quarter. Tsfg LLC now owns 11,603 shares of the company’s stock worth $399,000 after purchasing an additional 8,456 shares during the period. Farmers & Merchants Investments Inc. purchased a new position in iShares Robotics and Artificial Intelligence Multisector ETF in the first quarter valued at about $56,000. Comerica Bank lifted its holdings in shares of iShares Robotics and Artificial Intelligence Multisector ETF by 4.4% during the 1st quarter. Comerica Bank now owns 12,135 shares of the company’s stock valued at $417,000 after purchasing an additional 512 shares during the last quarter. Finally, Adirondack Trust Co. purchased a new position in iShares Robotics and Artificial Intelligence Multisector ETF in the 2nd quarter worth $50,000.

About iShares Robotics and Artificial Intelligence Multisector ETF

The iShares Robotics and Artificial Intelligence Multisector ETF (IRBO) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks an equal-weighted index of global equities involved in robotics and artificial intelligence. IRBO was launched on Jun 26, 2018 and is managed by BlackRock.