iShares Global Energy ETF (NYSEARCA:IXC) Hits New 1-Year High – Should You Buy?

iShares Global Energy ETF (NYSEARCA:IXC) hit a new 52-week high during trading on Tuesday . The company traded as high as $60.47 and last traded at $60.3850, with a volume of 158318 shares changing hands. The stock had previously closed at $59.30.

iShares Global Energy ETF Stock Up 1.9%

The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 13.85 and a beta of 0.36. The business’s 50-day moving average is $55.87 and its two-hundred day moving average is $54.58.

Institutional Investors Weigh In On iShares Global Energy ETF

A number of large investors have recently made changes to their positions in IXC. Clearstead Advisors LLC purchased a new stake in iShares Global Energy ETF in the 4th quarter valued at about $31,000. AlphaCore Capital LLC boosted its stake in iShares Global Energy ETF by 109.7% during the fourth quarter. AlphaCore Capital LLC now owns 734 shares of the company’s stock worth $31,000 after buying an additional 384 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of iShares Global Energy ETF during the first quarter valued at about $33,000. Parallel Advisors LLC increased its position in shares of iShares Global Energy ETF by 51.9% during the first quarter. Parallel Advisors LLC now owns 629 shares of the company’s stock valued at $36,000 after acquiring an additional 215 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of iShares Global Energy ETF in the 1st quarter valued at approximately $40,000.

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.