TCW Artificial Intelligence ETF (NYSEARCA:AIFD) Trading 1% Higher – Time to Buy?

Shares of TCW Artificial Intelligence ETF (NYSEARCA:AIFD) shot up 1% during trading on Friday . The company traded as high as $38.27 and last traded at $38.23. 1,995 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 16,766 shares. The stock had previously closed at $37.84.

TCW Artificial Intelligence ETF Stock Performance

The stock has a market cap of $86.40 million, a PE ratio of 42.59 and a beta of 1.82. The company’s 50-day moving average price is $37.35 and its two-hundred day moving average price is $34.83.

Institutional Investors Weigh In On TCW Artificial Intelligence ETF

Hedge funds have recently added to or reduced their stakes in the company. Fifth Third Securities Inc. purchased a new position in shares of TCW Artificial Intelligence ETF during the 2nd quarter valued at about $212,000. Mutual Advisors LLC purchased a new stake in TCW Artificial Intelligence ETF in the second quarter worth approximately $263,000. Envestnet Asset Management Inc. grew its position in TCW Artificial Intelligence ETF by 24.8% during the second quarter. Envestnet Asset Management Inc. now owns 19,782 shares of the company’s stock valued at $608,000 after acquiring an additional 3,937 shares during the last quarter. Parallel Advisors LLC bought a new position in TCW Artificial Intelligence ETF during the second quarter valued at approximately $206,000. Finally, Global Retirement Partners LLC purchased a new position in shares of TCW Artificial Intelligence ETF during the third quarter worth approximately $437,000.

About TCW Artificial Intelligence ETF

The TCW Artificial Intelligence ETF (AIFD) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund of global equity securities of companies focusing on and benefiting from artificial intelligence. It primarily selects growth companies and seeks long-term growth of capital. AIFD was launched on May 6, 2024 and is issued by TCW.