iShares Global Comm Services ETF (NYSEARCA:IXP) Sees Large Volume Increase – Time to Buy?

iShares Global Comm Services ETF (NYSEARCA:IXP) saw strong trading volume on Tuesday . 98,430 shares traded hands during mid-day trading, an increase of 80% from the previous session’s volume of 54,567 shares.The stock last traded at $120.05 and had previously closed at $120.31.

iShares Global Comm Services ETF Stock Performance

The stock has a market capitalization of $702.29 million, a price-to-earnings ratio of 19.46 and a beta of 0.87. The company has a 50-day moving average of $121.64 and a 200-day moving average of $121.56.

Institutional Trading of iShares Global Comm Services ETF

Hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in shares of iShares Global Comm Services ETF by 4.6% during the first quarter. NewEdge Advisors LLC now owns 4,222 shares of the company’s stock worth $410,000 after purchasing an additional 184 shares during the last quarter. Jane Street Group LLC grew its stake in shares of iShares Global Comm Services ETF by 56.7% in the first quarter. Jane Street Group LLC now owns 30,256 shares of the company’s stock worth $2,935,000 after purchasing an additional 10,943 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in iShares Global Comm Services ETF during the 2nd quarter valued at about $270,000. WBH Advisory Inc. boosted its stake in iShares Global Comm Services ETF by 70.3% during the 2nd quarter. WBH Advisory Inc. now owns 4,254 shares of the company’s stock valued at $478,000 after purchasing an additional 1,756 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of iShares Global Comm Services ETF by 4.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,555 shares of the company’s stock worth $1,073,000 after purchasing an additional 364 shares during the last quarter.

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.