iShares Future AI & Tech ETF (NYSEARCA:ARTY) Sets New 12-Month High – Still a Buy?

Shares of iShares Future AI & Tech ETF (NYSEARCA:ARTY) reached a new 52-week high during trading on Monday . The company traded as high as $69.14 and last traded at $68.73, with a volume of 93239 shares traded. The stock had previously closed at $68.38.

iShares Future AI & Tech ETF Stock Performance

The firm’s 50 day simple moving average is $52.90 and its 200 day simple moving average is $50.64. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 32.81 and a beta of 1.46.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ARTY. Northwestern Mutual Wealth Management Co. lifted its position in iShares Future AI & Tech ETF by 744.8% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,206,214 shares of the company’s stock valued at $55,220,000 after buying an additional 1,063,439 shares during the last quarter. Hancock Prospecting Pty Ltd purchased a new position in shares of iShares Future AI & Tech ETF during the third quarter worth approximately $48,307,000. Ameriprise Financial Inc. boosted its position in shares of iShares Future AI & Tech ETF by 85.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,324,334 shares of the company’s stock worth $60,639,000 after purchasing an additional 608,816 shares in the last quarter. Assetmark Inc. boosted its position in shares of iShares Future AI & Tech ETF by 1,433.3% during the 4th quarter. Assetmark Inc. now owns 631,409 shares of the company’s stock worth $30,421,000 after purchasing an additional 590,228 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of iShares Future AI & Tech ETF by 35.9% during the 3rd quarter. Bank of America Corp DE now owns 1,155,924 shares of the company’s stock worth $52,918,000 after purchasing an additional 305,380 shares in the last quarter.

iShares Future AI & Tech ETF Company Profile

The iShares Future AI & Tech ETF (ARTY) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a concentrated index of global companies that provide products and services that are expected to contribute to artificial intelligence technologies. Holdings are selected and weighted based on a modified market-cap. ARTY was launched on Jun 26, 2018 and is issued by BlackRock.