iShares Global Energy ETF (NYSEARCA:IXC) Reaches New 12-Month High – Here’s Why

iShares Global Energy ETF (NYSEARCA:IXC) shares hit a new 52-week high during mid-day trading on Monday. The company traded as high as $64.14 and last traded at $63.3790, with a volume of 573,850 shares traded. The stock had previously closed at $63.88.

iShares Global Energy ETF Stock Down 2.0%

The firm’s 50 day simple moving average is $59.36 and its 200 day simple moving average is $54.24. The company has a market capitalization of $3.34 billion, a PE ratio of 13.85 and a beta of 0.40.

Hedge Funds Weigh In On iShares Global Energy ETF

Large investors have recently made changes to their positions in the company. Legacy Wealth Managment LLC ID purchased a new stake in shares of iShares Global Energy ETF during the second quarter valued at $425,000. Morningstar Investment Management LLC bought a new position in shares of iShares Global Energy ETF in the first quarter worth about $8,923,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of iShares Global Energy ETF by 21.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 83,169 shares of the company’s stock worth $4,085,000 after purchasing an additional 14,644 shares during the last quarter. Hsbc Holdings PLC purchased a new position in iShares Global Energy ETF in the 1st quarter worth about $269,917,000. Finally, Wealthfront Advisers LLC increased its stake in iShares Global Energy ETF by 47.7% in the 1st quarter. Wealthfront Advisers LLC now owns 67,900 shares of the company’s stock worth $3,912,000 after buying an additional 21,919 shares during the period.

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.