iShares Global Energy ETF (NYSEARCA:IXC) Reaches New 12-Month High – Here’s Why

iShares Global Energy ETF (NYSEARCA:IXC) hit a new 52-week high on Monday. The company traded as high as $64.14 and last traded at $63.3790, with a volume of 573,850 shares. The stock had previously closed at $63.88.

iShares Global Energy ETF Trading Down 0.0%

The firm has a 50-day moving average price of $59.15 and a 200-day moving average price of $55.62. The stock has a market capitalization of $3.42 billion, a PE ratio of 13.85 and a beta of 0.40.

Institutional Investors Weigh In On iShares Global Energy ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Wealth Managment LLC ID purchased a new stake in shares of iShares Global Energy ETF in the second quarter worth about $425,000. Morningstar Investment Management LLC purchased a new stake in iShares Global Energy ETF in the first quarter worth about $8,923,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of iShares Global Energy ETF by 21.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 83,169 shares of the company’s stock valued at $4,085,000 after acquiring an additional 14,644 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of iShares Global Energy ETF by 47.7% in the 1st 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 in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in iShares Global Energy ETF in the first quarter valued at about $269,917,000.

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.