iShares Global Energy ETF (NYSEARCA:IXC) Sees Large Drop in Short Interest

iShares Global Energy ETF (NYSEARCA:IXC) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 265,548 shares, a drop of 41.8% from the April 30th total of 456,475 shares. Based on an average daily trading volume, of 1,113,673 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Trading of iShares Global Energy ETF

Hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC grew its position in shares of iShares Global Energy ETF by 200.0% during the fourth quarter. Manchester Capital Management LLC now owns 600 shares of the company’s stock worth $25,000 after buying an additional 400 shares in the last quarter. Group One Trading LLC boosted its holdings in iShares Global Energy ETF by 250.0% in the fourth quarter. Group One Trading LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in iShares Global Energy ETF in the fourth quarter worth $30,000. Pin Oak Investment Advisors Inc. acquired a new position in iShares Global Energy ETF in the third quarter worth $30,000. Finally, AlphaCore Capital LLC boosted its holdings in iShares Global Energy ETF by 109.7% in the fourth quarter. AlphaCore Capital LLC now owns 734 shares of the company’s stock worth $31,000 after purchasing an additional 384 shares during the period.

iShares Global Energy ETF Trading Up 1.7%

IXC stock opened at $54.21 on Tuesday. iShares Global Energy ETF has a twelve month low of $38.15 and a twelve month high of $59.18. The company has a market capitalization of $2.63 billion, a P/E ratio of 13.85 and a beta of 0.37. The firm has a 50 day simple moving average of $55.32 and a 200-day simple moving average of $49.38.

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.