ROBO Global Healthcare ETF Shares Dip 0.7% Amid Low Trading Volume

Shares of the ROBO Global Healthcare Technology and Innovation ETF (NYSEARCA:HTEC) experienced a decline of 0.7% on Friday, closing at $35.86 after trading as low as $35.84. The trading session saw a total of 2,509 shares exchanged, marking a significant drop of 63% from the average daily volume of 6,864 shares. The stock had closed at $36.10 the previous day.

Trading performance for the ROBO Global Healthcare ETF indicates a fifty-day simple moving average of $33.34 and a two-hundred-day simple moving average of $30.46. The ETF currently holds a market capitalization of $53.79 million, with a price-to-earnings ratio of -10,022.36 and a beta of 1.11, suggesting some volatility in its performance.

Institutional Investment Activity

Recent filings with the Securities and Exchange Commission reveal that a hedge fund has taken a new position in the ROBO Global Healthcare ETF. Flow Traders U.S. LLC acquired 45,631 shares during the second quarter, valued at approximately $1,302,000. This acquisition represents 3.00% ownership of the ETF as per the latest disclosure. Overall, institutional investors and hedge funds collectively own 1.96% of the stock.

The ROBO Global Healthcare Technology and Innovation ETF primarily invests in healthcare equities, tracking a proprietary index of global healthcare technology companies. Launched on June 25, 2019, the ETF is managed by ROBO Global, focusing on innovative healthcare solutions and advancements.

As the market continues to fluctuate, investors will be keeping a close eye on the performance of HTEC and its ability to attract further institutional interest. With a focus on healthcare technology, the ETF aims to capitalize on growth within this vital sector.