iShares Global Energy ETF (NYSEARCA:IXC) Hits New 52-Week High – Time to Buy?

iShares Global Energy ETF (NYSEARCA:IXC) shares hit a new 52-week high during trading on Monday . The company traded as high as $58.98 and last traded at $58.98, with a volume of 4081 shares changing hands. The stock had previously closed at $58.26.

iShares Global Energy ETF Trading Up 1.0%

The stock has a market capitalization of $2.67 billion, a P/E ratio of 13.85 and a beta of 0.69. The company has a 50-day moving average price of $50.86 and a two-hundred day moving average price of $45.19.

Hedge Funds Weigh In On iShares Global Energy ETF

Hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in shares of iShares Global Energy ETF by 8.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,729,493 shares of the company’s stock worth $617,608,000 after buying an additional 1,127,201 shares during the last quarter. Evergreen Capital Management LLC grew its position in iShares Global Energy ETF by 1.2% during the fourth quarter. Evergreen Capital Management LLC now owns 624,706 shares of the company’s stock valued at $26,194,000 after buying an additional 7,691 shares during the period. Verger Capital Management LLC raised its holdings in iShares Global Energy ETF by 12.6% during the 4th quarter. Verger Capital Management LLC now owns 575,775 shares of the company’s stock valued at $24,142,000 after acquiring an additional 64,282 shares during the period. UBS Group AG grew its position in shares of iShares Global Energy ETF by 11.6% during the 4th quarter. UBS Group AG now owns 499,935 shares of the company’s stock valued at $20,962,000 after purchasing an additional 51,793 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of iShares Global Energy ETF by 11.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 448,292 shares of the company’s stock worth $18,797,000 after purchasing an additional 44,921 shares in 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. Component companies include oil equipment and services, oil exploration and production, and oil refinery, oil storage and transportation, and coal and uranium mining companies.