iShares Global Energy ETF (NYSEARCA:IXC) Shares Gap Down – Here’s What Happened

iShares Global Energy ETF (NYSEARCA:IXC)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $54.16, but opened at $51.20. iShares Global Energy ETF shares last traded at $51.44, with a volume of 495,368 shares changing hands.

iShares Global Energy ETF Price Performance

The business has a 50-day moving average of $54.91 and a 200-day moving average of $50.13. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 13.85 and a beta of 0.34.

Hedge Funds Weigh In On iShares Global Energy ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of IXC. Hsbc Holdings PLC bought a new position in iShares Global Energy ETF during the first quarter worth about $269,917,000. Fisher Asset Management LLC grew its holdings in iShares Global Energy ETF by 8.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,729,493 shares of the company’s stock worth $617,608,000 after purchasing an additional 1,127,201 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in iShares Global Energy ETF by 4,521.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 394,266 shares of the company’s stock worth $16,532,000 after purchasing an additional 385,735 shares during the period. Alliancebernstein L.P. bought a new position in iShares Global Energy ETF during the third quarter worth about $7,510,000. Finally, Morningstar Investment Management LLC bought a new position in iShares Global Energy ETF during the first quarter worth about $8,923,000.

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.