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

Shares of iShares Global Energy ETF (NYSEARCA:IXC) saw an uptick in trading volume on Tuesday . 934,795 shares were traded during mid-day trading, an increase of 120% from the previous session’s volume of 424,215 shares.The stock last traded at $41.04 and had previously closed at $41.12.

iShares Global Energy ETF Trading Down 0.3 %

The firm has a fifty day simple moving average of $40.17 and a two-hundred day simple moving average of $40.83. The stock has a market cap of $3.37 billion, a PE ratio of 7.86 and a beta of 0.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in shares of iShares Global Energy ETF by 17.9% during the third quarter. Fisher Asset Management LLC now owns 9,832,438 shares of the company’s stock valued at $398,017,000 after buying an additional 1,491,283 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in iShares Global Energy ETF by 14,234.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 778,499 shares of the company’s stock valued at $32,315,000 after buying an additional 773,068 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in iShares Global Energy ETF in the 2nd quarter worth $22,940,000. Bank of Montreal Can increased its position in shares of iShares Global Energy ETF by 58.5% in the second quarter. Bank of Montreal Can now owns 272,376 shares of the company’s stock valued at $11,313,000 after acquiring an additional 100,512 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of iShares Global Energy ETF by 2,945.3% in the third quarter. International Assets Investment Management LLC now owns 103,205 shares of the company’s stock worth $4,178,000 after purchasing an additional 99,816 shares during the last quarter.

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.