iShares Global Energy ETF (NYSEARCA:IXC) Sees Unusually-High Trading Volume – Still a Buy?

iShares Global Energy ETF (NYSEARCA:IXC) saw unusually-strong trading volume on Tuesday . Approximately 934,795 shares changed hands during trading, an increase of 120% from the previous session’s volume of 424,215 shares.The stock last traded at $41.04 and had previously closed at $41.12.

iShares Global Energy ETF Stock Performance

The stock has a market capitalization of $3.34 billion, a P/E ratio of 7.86 and a beta of 0.52. The firm has a fifty day moving average price of $40.14 and a two-hundred day moving average price of $40.82.

Hedge Funds Weigh In On iShares Global Energy ETF

Several institutional investors have recently made changes to their positions in IXC. EverSource Wealth Advisors LLC raised its holdings in iShares Global Energy ETF by 73.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,783 shares of the company’s stock worth $202,000 after purchasing an additional 2,031 shares during the period. Bank of Montreal Can raised its stake in shares of iShares Global Energy ETF by 58.5% in the second quarter. Bank of Montreal Can now owns 272,376 shares of the company’s stock worth $11,313,000 after buying an additional 100,512 shares during the period. Marshall Wace LLP purchased a new position in shares of iShares Global Energy ETF during the 2nd quarter valued at about $1,634,000. Cubist Systematic Strategies LLC bought a new position in shares of iShares Global Energy ETF during the 2nd quarter valued at approximately $860,000. Finally, Squarepoint Ops LLC purchased a new stake in iShares Global Energy ETF in the 2nd quarter worth approximately $584,000.

iShares Global Energy ETF Company Profile

iShares Global Energy ETF (the Fund), formerly iShares S&P Global Energy Sector Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global Energy Sector Index (the Index). The Index is a subset of the S&P Global 1200 Index, and measures the performance of companies that S&P deems to be part of the energy sector of the economy.