Roundhill Generative AI & Technology ETF (NYSEARCA:CHAT) Shares Down 5.9% – What’s Next?

Roundhill Generative AI & Technology ETF (NYSEARCA:CHAT)’s stock price dropped 5.9% during mid-day trading on Thursday. The stock traded as low as $75.90 and last traded at $76.44. 602,837 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 476,746 shares. The stock had previously closed at $81.22.

Roundhill Generative AI & Technology ETF Price Performance

The stock has a 50-day moving average price of $88.43 and a 200-day moving average price of $87.44. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 21.50 and a beta of 1.88.

Institutional Investors Weigh In On Roundhill Generative AI & Technology ETF

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in Roundhill Generative AI & Technology ETF by 5.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,788 shares of the company’s stock worth $532,000 after buying an additional 284 shares during the period. Noble Wealth Management PBC boosted its position in shares of Roundhill Generative AI & Technology ETF by 160.0% in the third quarter. Noble Wealth Management PBC now owns 12,430 shares of the company’s stock valued at $1,143,000 after acquiring an additional 7,650 shares during the period. NewEdge Advisors LLC grew its stake in shares of Roundhill Generative AI & Technology ETF by 26.9% in the second quarter. NewEdge Advisors LLC now owns 3,666 shares of the company’s stock valued at $362,000 after acquiring an additional 777 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its stake in shares of Roundhill Generative AI & Technology ETF by 27.0% in the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 4,700 shares of the company’s stock valued at $464,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Gill Capital Partners LLC grew its stake in shares of Roundhill Generative AI & Technology ETF by 47.9% in the second quarter. Gill Capital Partners LLC now owns 4,232 shares of the company’s stock valued at $418,000 after acquiring an additional 1,371 shares in the last quarter.

Roundhill Generative AI & Technology ETF Company Profile

The Roundhill Generative AI & Technology ETF (CHAT) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that invests in 25 to 50 companies around the world that are involved in generative artificial intelligence and other related technologies. CHAT was launched on May 18, 2023 and is managed by Roundhill.