iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) Sets New 12-Month High – Still a Buy?

iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) hit a new 52-week high on Tuesday . The stock traded as high as $36.07 and last traded at $35.43, with a volume of 76727 shares. The stock had previously closed at $36.15.

iShares Robotics and Artificial Intelligence Multisector ETF Stock Down 2.0 %

The business’s 50-day moving average is $33.39 and its 200-day moving average is $33.37. The company has a market capitalization of $701.51 million, a price-to-earnings ratio of 20.73 and a beta of 1.45.

Institutional Investors Weigh In On iShares Robotics and Artificial Intelligence Multisector ETF

Several hedge funds and other institutional investors have recently made changes to their positions in IRBO. Tsfg LLC grew its position in iShares Robotics and Artificial Intelligence Multisector ETF by 268.7% in the first quarter. Tsfg LLC now owns 11,603 shares of the company’s stock worth $399,000 after acquiring 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 $56,000. Comerica Bank grew its stake in 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 worth $417,000 after purchasing an additional 512 shares in the last quarter. Adirondack Trust Co. purchased a new stake in iShares Robotics and Artificial Intelligence Multisector ETF during the 2nd quarter worth about $50,000. Finally, Lynx Investment Advisory purchased a new stake in shares of iShares Robotics and Artificial Intelligence Multisector ETF in the 2nd quarter valued at approximately $25,000.

iShares Robotics and Artificial Intelligence Multisector ETF Company Profile

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.