iShares GSCI Commodity Dynamic Roll Strategy ETF (NASDAQ:COMT) Shares Gap Down – Here’s Why

iShares GSCI Commodity Dynamic Roll Strategy ETF (NASDAQ:COMT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $26.29, but opened at $24.89. iShares GSCI Commodity Dynamic Roll Strategy ETF shares last traded at $24.82, with a volume of 13,269 shares.

iShares GSCI Commodity Dynamic Roll Strategy ETF Stock Performance

The firm has a market cap of $822.20 million, a price-to-earnings ratio of -12.70 and a beta of 0.53. The stock’s fifty day moving average is $26.19 and its two-hundred day moving average is $26.37.

Institutional Investors Weigh In On iShares GSCI Commodity Dynamic Roll Strategy ETF

Several large investors have recently made changes to their positions in the company. Truist Financial Corp bought a new position in iShares GSCI Commodity Dynamic Roll Strategy ETF in the 2nd quarter worth approximately $68,420,000. Envestnet Asset Management Inc. boosted its position in iShares GSCI Commodity Dynamic Roll Strategy ETF by 895.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 968,185 shares of the company’s stock worth $26,441,000 after acquiring an additional 870,930 shares during the period. Axiom Advisory LLC grew its stake in shares of iShares GSCI Commodity Dynamic Roll Strategy ETF by 11.4% in the third quarter. Axiom Advisory LLC now owns 5,530,030 shares of the company’s stock worth $144,969,000 after purchasing an additional 564,318 shares in the last quarter. Carrera Capital Advisors bought a new position in shares of iShares GSCI Commodity Dynamic Roll Strategy ETF in the second quarter worth $6,490,000. Finally, NewEdge Advisors LLC increased its holdings in shares of iShares GSCI Commodity Dynamic Roll Strategy ETF by 41,857.1% during the second quarter. NewEdge Advisors LLC now owns 202,653 shares of the company’s stock valued at $5,534,000 after purchasing an additional 202,170 shares during the period. Institutional investors and hedge funds own 1.80% of the company’s stock.

About iShares GSCI Commodity Dynamic Roll Strategy ETF

The iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) is an exchange-traded fund that is based on the S&P GSCI Dynamic Roll index. The fund tracks a broad-market commodity index that utilizes a flexible dynamic roll strategy. COMT was launched on Oct 16, 2014 and is managed by BlackRock.