iShares Global Comm Services ETF (NYSEARCA:IXP) Sees Unusually-High Trading Volume – What’s Next?

iShares Global Comm Services ETF (NYSEARCA:IXP) saw strong trading volume on Wednesday. Approximately 348,265 shares changed hands during trading, an increase of 628% from the previous session’s volume of 47,829 shares. The stock last traded at $115.21 and had previously closed at $116.24.

iShares Global Comm Services ETF Stock Down 2.5%

The stock has a market capitalization of $436.58 million, a P/E ratio of 19.46 and a beta of 0.88. The stock’s 50 day moving average price is $118.12 and its 200-day moving average price is $118.75.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rockland Trust Co. acquired a new position in shares of iShares Global Comm Services ETF in the 3rd quarter valued at $4,003,000. AMI Asset Management Corp purchased a new position in iShares Global Comm Services ETF during the third quarter worth approximately $849,000. CX Institutional lifted its position in shares of iShares Global Comm Services ETF by 3,090.2% during the 2nd quarter. CX Institutional now owns 6,540 shares of the company’s stock valued at $738,000 after buying an additional 6,335 shares in the last quarter. Meridian Investment Counsel Inc. acquired a new stake in iShares Global Comm Services ETF in the 3rd quarter valued at $739,000. Finally, Capital Square LLC acquired a new position in iShares Global Comm Services ETF during the second quarter worth $224,000.

About iShares Global Comm Services ETF

The iShares Global Comm Services ETF (IXP) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of global communication services companies, drawn from 1,200 global stocks selected by S&P. IXP was launched on Nov 12, 2001 and is managed by BlackRock.