iShares Global Energy ETF (NYSEARCA:IXC) Sees Unusually-High Trading Volume – Still a Buy?

iShares Global Energy ETF (NYSEARCA:IXC) saw unusually-high trading volume on Tuesday. Approximately 2,949,799 shares traded hands during trading, an increase of 229% from the average daily volume of 897,886 shares. The stock last traded at $61.3310 and had previously closed at $61.78.

iShares Global Energy ETF Stock Down 0.7%

The company has a fifty day simple moving average of $59.74 and a 200-day simple moving average of $54.64. The firm has a market cap of $3.32 billion, a P/E ratio of 13.85 and a beta of 0.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IXC. Pictet Asset Management Holding SA bought a new stake in shares of iShares Global Energy ETF in the 3rd quarter worth about $42,671,000. United Advisor Group LLC purchased a new stake in iShares Global Energy ETF in the 3rd quarter worth about $342,000. Ashton Thomas Private Wealth LLC raised its position in iShares Global Energy ETF by 14.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,096 shares of the company’s stock worth $119,000 after purchasing an additional 269 shares during the period. Kestra Advisory Services LLC lifted its stake in iShares Global Energy ETF by 5.9% in the third quarter. Kestra Advisory Services LLC now owns 39,275 shares of the company’s stock worth $2,237,000 after purchasing an additional 2,190 shares during the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in shares of iShares Global Energy ETF during the third quarter valued at approximately $9,239,000.

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.