iShares Global Clean Energy ETF (NASDAQ:ICLN) Reaches New 12-Month Low – Here’s Why

iShares Global Clean Energy ETF (NASDAQ:ICLN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.38 and last traded at $12.44, with a volume of 275627 shares traded. The stock had previously closed at $13.50.

iShares Global Clean Energy ETF Stock Performance

The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 14.91 and a beta of 1.09. The business’s 50-day moving average is $13.88 and its 200-day moving average is $13.99.

Institutional Investors Weigh In On iShares Global Clean Energy ETF

A number of hedge funds have recently made changes to their positions in ICLN. Janney Montgomery Scott LLC increased its position in iShares Global Clean Energy ETF by 45.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 39,665 shares of the company’s stock valued at $555,000 after acquiring an additional 12,433 shares in the last quarter. Penobscot Wealth Management increased its position in iShares Global Clean Energy ETF by 4.4% in the 2nd quarter. Penobscot Wealth Management now owns 126,665 shares of the company’s stock valued at $1,724,000 after acquiring an additional 5,308 shares in the last quarter. Farther Finance Advisors LLC increased its position in iShares Global Clean Energy ETF by 57.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 24,055 shares of the company’s stock valued at $320,000 after acquiring an additional 8,803 shares in the last quarter. Jane Street Group LLC increased its position in iShares Global Clean Energy ETF by 54.2% in the 1st quarter. Jane Street Group LLC now owns 644,950 shares of the company’s stock valued at $9,016,000 after acquiring an additional 226,758 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in iShares Global Clean Energy ETF in the 1st quarter valued at about $267,000.

About iShares Global Clean Energy ETF

iShares Global Clean Energy ETF, formerly iShares S&P Global Clean Energy Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P Global Clean Energy Index. The S&P Global Clean Energy Index includes clean energy production companies, clean energy equipment and technology providers.