iShares Global Clean Energy ETF (NASDAQ:ICLN) Reaches New 1-Year Low – Should You Sell?

iShares Global Clean Energy ETF (NASDAQ:ICLN)’s share price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $15.53 and last traded at $15.68, with a volume of 58,931 shares trading hands. The stock had previously closed at $16.02.

iShares Global Clean Energy ETF Stock Down 3.8%

The business has a fifty day moving average of $17.31 and a 200 day moving average of $19.08. The firm has a market cap of $1.95 billion, a P/E ratio of 17.16 and a beta of 1.10.

Institutional Trading of iShares Global Clean Energy ETF

Several large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of iShares Global Clean Energy ETF by 289.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,887,946 shares of the company’s stock valued at $38,684,000 after purchasing an additional 1,402,558 shares during the last quarter. Bank of Nova Scotia raised its holdings in iShares Global Clean Energy ETF by 458.6% in the 1st quarter. Bank of Nova Scotia now owns 803,560 shares of the company’s stock worth $14,697,000 after purchasing an additional 659,700 shares during the period. Agur Provident & Training Funds Management Ltd. acquired a new position in shares of iShares Global Clean Energy ETF during the 2nd quarter worth approximately $10,353,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of iShares Global Clean Energy ETF during the 2nd quarter worth $6,677,000. Finally, Nan Shan Life Insurance Co. Ltd. purchased a new position in shares of iShares Global Clean Energy ETF in the second quarter valued at approximately $6,048,000.

iShares Global Clean Energy ETF Company Profile

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. The Fund operates in a range of sectors, which include electric utilities, semiconductors and semiconductor equipment, independent power producers and energy traders, commercial services and supplies, and electrical equipment.