iShares Energy Storage & Materials ETF (NASDAQ:IBAT) Stock Price Up 3% – Still a Buy?

iShares Energy Storage & Materials ETF (NASDAQ:IBAT)’s stock price rose 3% during mid-day trading on Wednesday . The company traded as high as $41.64 and last traded at $41.64. Approximately 72,456 shares changed hands during trading, an increase of 175% from the average daily volume of 26,393 shares. The stock had previously closed at $40.44.

iShares Energy Storage & Materials ETF Trading Up 3.0%

The stock has a 50 day moving average of $35.25 and a 200-day moving average of $32.25. The company has a market capitalization of $48.30 million, a P/E ratio of 18.48 and a beta of 1.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBAT. Flow Traders U.S. LLC bought a new position in iShares Energy Storage & Materials ETF in the 2nd quarter worth approximately $252,000. Citadel Advisors LLC bought a new position in iShares Energy Storage & Materials ETF in the 3rd quarter worth approximately $644,000. Midwest Financial Partners Investments Inc. bought a new position in iShares Energy Storage & Materials ETF in the 4th quarter worth approximately $1,519,000. Finally, Guardian Capital LP bought a new position in iShares Energy Storage & Materials ETF in the 3rd quarter worth approximately $1,663,000.

About iShares Energy Storage & Materials ETF

The iShares Energy Storage & Materials ETF (IBAT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks a price-weighted index of companies involved in energy storage solutions around the globe. The fund seeks to provide long-term growth opportunities from companies involved in the transition to a low-carbon economy. IBAT was launched on Mar 19, 2024 and is issued by BlackRock.