iShares Global Timber & Forestry ETF (NASDAQ:WOOD) Trading 2.1% Higher – Here’s Why

Shares of iShares Global Timber & Forestry ETF (NASDAQ:WOOD) were up 2.1% during trading on Tuesday . The company traded as high as $71.63 and last traded at $71.50. 6,401 shares changed hands during trading, a decline of 75% from the average daily volume of 25,620 shares. The stock had previously closed at $70.05.

iShares Global Timber & Forestry ETF Price Performance

The firm’s fifty day simple moving average is $67.39 and its 200 day simple moving average is $71.23. The company has a market capitalization of $265.98 million, a price-to-earnings ratio of 16.65 and a beta of 0.75.

iShares Global Timber & Forestry ETF Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were given a $0.6286 dividend. The ex-dividend date was Monday, June 15th.

Hedge Funds Weigh In On iShares Global Timber & Forestry ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in iShares Global Timber & Forestry ETF by 46.9% during the 1st quarter. Bank of America Corp DE now owns 121,529 shares of the company’s stock worth $8,622,000 after purchasing an additional 38,778 shares in the last quarter. Comprehensive Money Management Services LLC lifted its holdings in shares of iShares Global Timber & Forestry ETF by 69.1% in the fourth quarter. Comprehensive Money Management Services LLC now owns 37,155 shares of the company’s stock valued at $2,676,000 after purchasing an additional 15,180 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of iShares Global Timber & Forestry ETF by 29.2% in the fourth quarter. Jane Street Group LLC now owns 32,320 shares of the company’s stock valued at $2,327,000 after purchasing an additional 7,295 shares in the last quarter. Cordoba Advisory Partners LLC acquired a new stake in shares of iShares Global Timber & Forestry ETF in the fourth quarter worth $474,000. Finally, Cullen Capital Management LLC acquired a new stake in shares of iShares Global Timber & Forestry ETF in the fourth quarter worth $472,000.

About iShares Global Timber & Forestry ETF

iShares Global Timber & Forestry ETF, formerly iShares S&P Global Timber & Forestry Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global Timber & Forestry Index (the Index). The Index consists of approximately 25 publicly-traded companies engaged in the ownership, management or upstream supply chain of forests and timberlands. These include forest products companies, timber real estate investment trusts (REITs), paper products companies, paper packaging companies and agricultural products companies.