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

iShares Global Comm Services ETF (NYSEARCA:IXP) saw unusually-strong trading volume on Thursday . Approximately 162,160 shares traded hands during trading, an increase of 219% from the previous session’s volume of 50,901 shares.The stock last traded at $120.71 and had previously closed at $121.29.

iShares Global Comm Services ETF Price Performance

The firm has a market capitalization of $705.98 million, a price-to-earnings ratio of 19.46 and a beta of 0.87. The stock has a 50 day moving average price of $121.41 and a two-hundred day moving average price of $121.80.

Institutional Trading of iShares Global Comm Services ETF

Hedge funds have recently made changes to their positions in the business. Transcend Capital Advisors LLC grew its holdings in shares of iShares Global Comm Services ETF by 3.8% in the third quarter. Transcend Capital Advisors LLC now owns 2,584 shares of the company’s stock valued at $319,000 after purchasing an additional 95 shares in the last quarter. Vivaldi Capital Management LP boosted its position in iShares Global Comm Services ETF by 4.6% in the 4th quarter. Vivaldi Capital Management LP now owns 2,233 shares of the company’s stock valued at $271,000 after buying an additional 98 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of iShares Global Comm Services ETF by 4.6% in the third quarter. J.W. Cole Advisors Inc. now owns 2,625 shares of the company’s stock worth $324,000 after acquiring an additional 115 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of iShares Global Comm Services ETF by 5.9% in the fourth quarter. Sunbelt Securities Inc. now owns 2,400 shares of the company’s stock worth $291,000 after acquiring an additional 133 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of iShares Global Comm Services ETF by 19.7% during the second quarter. SBI Securities Co. Ltd. now owns 952 shares of the company’s stock worth $107,000 after acquiring an additional 157 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.