iShares Exponential Technologies ETF (NASDAQ:XT) Sets New 52-Week High – Should You Buy?

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

iShares Exponential Technologies ETF Stock Performance

The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 26.41 and a beta of 1.12. The business’s 50 day moving average is $71.51 and its 200-day moving average is $72.27.

Institutional Investors Weigh In On iShares Exponential Technologies ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its position in shares of iShares Exponential Technologies ETF by 946.8% during the 1st quarter. Jane Street Group LLC now owns 160,177 shares of the company’s stock worth $9,220,000 after purchasing an additional 144,876 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in iShares Exponential Technologies ETF in the 2nd quarter valued at approximately $356,000. Strategic Wealth Investment Group LLC acquired a new stake in iShares Exponential Technologies ETF in the 2nd quarter valued at approximately $135,000. Ameriprise Financial Inc. increased its position in iShares Exponential Technologies ETF by 143.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 641,593 shares of the company’s stock worth $41,912,000 after buying an additional 378,264 shares during the period. Finally, Orion Porfolio Solutions LLC increased its position in iShares Exponential Technologies ETF by 683.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 824,495 shares of the company’s stock worth $53,798,000 after buying an additional 719,245 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.