iShares Global Energy ETF (NYSEARCA:IXC) Hits New 52-Week High – Should You Buy?

iShares Global Energy ETF (NYSEARCA:IXC) reached a new 52-week high during trading on Thursday . The company traded as high as $53.75 and last traded at $53.71, with a volume of 208302 shares changing hands. The stock had previously closed at $53.30.

iShares Global Energy ETF Price Performance

The stock has a 50 day moving average of $47.81 and a two-hundred day moving average of $43.96. The stock has a market capitalization of $2.44 billion, a PE ratio of 13.85 and a beta of 0.69.

Hedge Funds Weigh In On iShares Global Energy ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC increased its holdings in shares of iShares Global Energy ETF by 200.0% in the 4th quarter. Manchester Capital Management LLC now owns 600 shares of the company’s stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Group One Trading LLC lifted its stake in shares of iShares Global Energy ETF by 250.0% in the fourth quarter. Group One Trading LLC now owns 700 shares of the company’s stock valued at $29,000 after purchasing an additional 500 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in iShares Global Energy ETF during the fourth quarter worth about $30,000. Clearstead Advisors LLC acquired a new position in iShares Global Energy ETF during the fourth quarter worth about $31,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in iShares Global Energy ETF during the third quarter worth about $30,000.

About iShares Global Energy ETF

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.