iShares Global Energy ETF (NYSEARCA:IXC) Sees Large Volume Increase – Time to Buy?

iShares Global Energy ETF (NYSEARCA:IXC) shares saw strong trading volume on Wednesday. Approximately 942,212 shares changed hands during trading, an increase of 3% from the previous session’s volume of 910,844 shares. The stock last traded at $61.8310 and had previously closed at $61.73.

iShares Global Energy ETF Price Performance

The company has a market cap of $3.25 billion, a price-to-earnings ratio of 13.85 and a beta of 0.40. The firm’s 50 day simple moving average is $57.98 and its 200-day simple moving average is $55.31.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in shares of iShares Global Energy ETF in the first quarter valued at approximately $269,917,000. Morningstar Investment Management LLC acquired a new position in shares of iShares Global Energy ETF during the 1st quarter worth approximately $8,923,000. Ayalon Insurance Comp Ltd. purchased a new stake in iShares Global Energy ETF in the 3rd quarter valued at approximately $6,123,000. Envestnet Asset Management Inc. lifted its stake in iShares Global Energy ETF by 122.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 96,873 shares of the company’s stock valued at $4,759,000 after buying an additional 53,340 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in iShares Global Energy ETF by 28.9% in the 1st quarter. Royal Bank of Canada now owns 179,975 shares of the company’s stock valued at $10,368,000 after buying an additional 40,364 shares in the last quarter.

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.