iShares Global Energy ETF (NYSEARCA:IXC) Sees Strong Trading Volume – Here’s Why

iShares Global Energy ETF (NYSEARCA:IXC) shares saw an uptick in trading volume on Wednesday. 942,212 shares were traded 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 Stock Down 1.1%

The firm has a 50-day simple moving average of $58.30 and a 200 day simple moving average of $55.37. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 13.85 and a beta of 0.40.

Hedge Funds Weigh In On iShares Global Energy ETF

A number of hedge funds have recently modified their holdings of the business. Legacy Wealth Managment LLC ID acquired a new stake in iShares Global Energy ETF during the 2nd quarter worth $425,000. Factor Wealth Management LTD increased its stake in iShares Global Energy ETF by 18.9% in the first quarter. Factor Wealth Management LTD now owns 74,287 shares of the company’s stock valued at $4,280,000 after purchasing an additional 11,793 shares during the period. Morningstar Investment Management LLC acquired a new position in iShares Global Energy ETF in the first quarter valued at $8,923,000. Envestnet Portfolio Solutions Inc. increased its stake in 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 valued at $4,085,000 after purchasing an additional 14,644 shares during the period. Finally, Wealthfront Advisers LLC raised its holdings in shares of iShares Global Energy ETF by 47.7% in the first quarter. Wealthfront Advisers LLC now owns 67,900 shares of the company’s stock valued at $3,912,000 after buying an additional 21,919 shares during the last quarter.

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.