First Trust Nasdaq Artificial Intelligence and Robotics ETF (NASDAQ:ROBT) Sets New 12-Month High – Here’s Why

First Trust Nasdaq Artificial Intelligence and Robotics ETF (NASDAQ:ROBT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $56.74 and last traded at $56.47, with a volume of 2940 shares trading hands. The stock had previously closed at $54.90.

First Trust Nasdaq Artificial Intelligence and Robotics ETF Stock Performance

The company has a market capitalization of $746.05 million, a PE ratio of 27.26 and a beta of 1.24. The stock’s fifty day simple moving average is $50.24 and its 200-day simple moving average is $51.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its holdings in First Trust Nasdaq Artificial Intelligence and Robotics ETF by 6.9% in the 4th quarter. LPL Financial LLC now owns 956,667 shares of the company’s stock valued at $49,619,000 after purchasing an additional 61,896 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in First Trust Nasdaq Artificial Intelligence and Robotics ETF by 276.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 809,743 shares of the company’s stock valued at $41,999,000 after purchasing an additional 594,815 shares in the last quarter. Bank of America Corp DE lifted its holdings in First Trust Nasdaq Artificial Intelligence and Robotics ETF by 14.3% in the 1st quarter. Bank of America Corp DE now owns 492,874 shares of the company’s stock valued at $22,751,000 after purchasing an additional 61,725 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in First Trust Nasdaq Artificial Intelligence and Robotics ETF by 11.4% in the 4th quarter. Wells Fargo & Company MN now owns 378,459 shares of the company’s stock valued at $19,629,000 after purchasing an additional 38,641 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in First Trust Nasdaq Artificial Intelligence and Robotics ETF by 8.4% in the 1st quarter. Royal Bank of Canada now owns 225,517 shares of the company’s stock valued at $10,410,000 after purchasing an additional 17,495 shares in the last quarter.

About First Trust Nasdaq Artificial Intelligence and Robotics ETF

The First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a modified equal-weighted index of all-cap, global companies involved in artificial intelligence or robotics. ROBT was launched on Feb 21, 2018 and is managed by First Trust.