iShares Global Energy ETF (NYSEARCA:IXC) Sees Large Drop in Short Interest

iShares Global Energy ETF (NYSEARCA:IXC) saw a large drop in short interest in December. As of December 31st, there was short interest totaling 343,456 shares, a drop of 27.9% from the December 15th total of 476,553 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 403,379 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 403,379 shares, the short-interest ratio is currently 0.9 days. Currently, 0.8% of the shares of the company are sold short.

iShares Global Energy ETF Price Performance

iShares Global Energy ETF stock traded up $0.20 during mid-day trading on Friday, reaching $44.20. 311,659 shares of the company traded hands, compared to its average volume of 486,396. The firm’s fifty day moving average is $42.60 and its two-hundred day moving average is $41.53. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.85 and a beta of 0.69. iShares Global Energy ETF has a fifty-two week low of $33.89 and a fifty-two week high of $44.90.

Hedge Funds Weigh In On iShares Global Energy ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. purchased a new stake in iShares Global Energy ETF during the 3rd quarter valued at about $30,000. Advisory Services Network LLC purchased a new position in shares of iShares Global Energy ETF in the third quarter worth about $38,000. Fortitude Family Office LLC acquired a new stake in shares of iShares Global Energy ETF during the third quarter worth about $40,000. Sound Income Strategies LLC lifted its holdings in shares of iShares Global Energy ETF by 2,153.8% during the second quarter. Sound Income Strategies LLC now owns 1,758 shares of the company’s stock worth $69,000 after purchasing an additional 1,680 shares during the period. Finally, Kilter Group LLC purchased a new stake in iShares Global Energy ETF in the second quarter valued at approximately $75,000.

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. Component companies include oil equipment and services, oil exploration and production, and oil refinery, oil storage and transportation, and coal and uranium mining companies.