Roundhill Generative AI & Technology ETF (NYSEARCA:CHAT) Hits New 12-Month High – Still a Buy?

Roundhill Generative AI & Technology ETF (NYSEARCA:CHAT) hit a new 52-week high during trading on Wednesday . The company traded as high as $87.77 and last traded at $87.67, with a volume of 297393 shares changing hands. The stock had previously closed at $84.24.

Roundhill Generative AI & Technology ETF Stock Up 5.7%

The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 21.50 and a beta of 1.74. The business’s 50-day moving average is $69.74 and its 200-day moving average is $64.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHAT. NewEdge Advisors LLC lifted its position in Roundhill Generative AI & Technology ETF by 2,875.6% during the first quarter. NewEdge Advisors LLC now owns 6,338 shares of the company’s stock valued at $221,000 after purchasing an additional 6,125 shares during the period. JPMorgan Chase & Co. purchased a new position in Roundhill Generative AI & Technology ETF during the second quarter valued at approximately $63,000. Marshall Wace LLP purchased a new position in Roundhill Generative AI & Technology ETF during the second quarter valued at approximately $312,000. Valeo Financial Advisors LLC purchased a new position in Roundhill Generative AI & Technology ETF during the third quarter valued at approximately $537,000. Finally, Price Capital Management Inc. purchased a new position in Roundhill Generative AI & Technology ETF during the third quarter valued at approximately $7,894,000.

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.