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

iShares Global Energy ETF (NYSEARCA:IXC)’s stock price hit a new 52-week high on Monday. The company traded as high as $62.98 and last traded at $62.7550, with a volume of 471,952 shares traded. The stock had previously closed at $62.98.

iShares Global Energy ETF Stock Down 0.3%

The company has a market capitalization of $3.31 billion, a P/E ratio of 13.85 and a beta of 0.40. The business’s 50-day moving average price is $58.48 and its 200 day moving average price is $55.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IXC. Client 1ST Advisory Group LLC lifted its stake in iShares Global Energy ETF by 9.1% during the third quarter. Client 1ST Advisory Group LLC now owns 124,660 shares of the company’s stock worth $7,102,000 after purchasing an additional 10,361 shares during the last quarter. 1834 Investment Advisors Co. bought a new position in shares of iShares Global Energy ETF during the 3rd quarter valued at about $313,000. Vontobel Holding Ltd. bought a new position in shares of iShares Global Energy ETF during the 3rd quarter valued at about $1,424,000. Snider Financial Group raised its holdings in shares of iShares Global Energy ETF by 2.1% during the 3rd quarter. Snider Financial Group now owns 53,540 shares of the company’s stock valued at $3,050,000 after buying an additional 1,113 shares in the last quarter. Finally, TPG Advisors LLC raised its holdings in shares of iShares Global Energy ETF by 17.4% during the 3rd quarter. TPG Advisors LLC now owns 14,086 shares of the company’s stock valued at $802,000 after buying an additional 2,084 shares in the last quarter.

About iShares Global Energy ETF

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.