iShares Robotics and Artificial Intelligence Multisector ETF Trading Volume Increases
The iShares Robotics and Artificial Intelligence Multisector ETF (NYSEARCA:IRBO) experienced a surge in trading volume on Friday, with 35,813 shares changing hands. This marked a 72% decrease from the previous session’s volume of 128,646 shares. Despite the decline in trading volume, the stock saw a slight increase, closing at $33.87, up 0.7% from its previous close of $33.77.
The ETF, which has a market cap of $673.20 million and a PE ratio of 20.73, has a 50-day moving average price of $33.57 and a two-hundred day moving average price of $33.56. With a beta of 1.45, the iShares Robotics and Artificial Intelligence Multisector ETF is attracting attention from hedge funds and large investors.
Recent filings show that Farmers & Merchants Investments Inc., Creative Financial Designs Inc. ADV, First Horizon Advisors Inc., PVG Asset Management Corp, and Tsfg LLC have all made significant investments in the ETF. These investments range from $56,000 to $399,000, indicating growing interest in the robotics and artificial intelligence sector.
The iShares Robotics and Artificial Intelligence Multisector ETF, launched in 2018 and managed by BlackRock, tracks an equal-weighted index of global equities involved in robotics and AI. As the demand for automation and AI technologies continues to grow, this ETF provides investors with exposure to companies at the forefront of these industries.
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