iShares Global Comm Services ETF (NYSEARCA:IXP) Sees Large Volume Increase – What’s Next?

iShares Global Comm Services ETF (NYSEARCA:IXP) shares saw an uptick in trading volume on Friday . 115,650 shares traded hands during trading, an increase of 59% from the previous session’s volume of 72,626 shares.The stock last traded at $119.84 and had previously closed at $120.19.

iShares Global Comm Services ETF Stock Performance

The business’s 50 day moving average price is $121.74 and its 200-day moving average price is $119.81. The firm has a market capitalization of $730.17 million, a PE ratio of 19.46 and a beta of 0.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in iShares Global Comm Services ETF in the second quarter valued at $78,708,000. Bank of America Corp DE increased its position in iShares Global Comm Services ETF by 427.5% during the second quarter. Bank of America Corp DE now owns 295,753 shares of the company’s stock worth $33,219,000 after buying an additional 239,685 shares during the period. PGIM Custom Harvest LLC lifted its stake in iShares Global Comm Services ETF by 25.3% in the second quarter. PGIM Custom Harvest LLC now owns 399,185 shares of the company’s stock valued at $44,836,000 after buying an additional 80,560 shares during the last quarter. Surience Private Wealth LLC acquired a new stake in shares of iShares Global Comm Services ETF in the third quarter valued at approximately $8,399,000. Finally, NewEdge Advisors LLC increased its holdings in shares of iShares Global Comm Services ETF by 611.1% in the 2nd quarter. NewEdge Advisors LLC now owns 30,022 shares of the company’s stock valued at $3,372,000 after acquiring an additional 25,800 shares during the period.

About iShares Global Comm Services ETF

The iShares Global Comm Services ETF (IXP) is an exchange-traded fund that mostly invests in communication services equity. The fund tracks a market-cap-weighted index of global communication services companies, drawn from 1,200 global stocks selected by S&P. IXP was launched on Nov 12, 2001 and is managed by BlackRock.