iShares Global Energy ETF (NYSEARCA:IXC) Reaches New 52-Week High – What’s Next?

iShares Global Energy ETF (NYSEARCA:IXC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $57.17 and last traded at $57.10, with a volume of 148063 shares. The stock had previously closed at $55.90.

iShares Global Energy ETF Price Performance

The firm’s 50 day moving average is $49.80 and its 200 day moving average is $44.73. The company has a market capitalization of $2.59 billion, a PE ratio of 13.85 and a beta of 0.69.

Hedge Funds Weigh In On iShares Global Energy ETF

A number of hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC raised its stake in shares of iShares Global Energy ETF by 200.0% during the fourth quarter. Manchester Capital Management LLC now owns 600 shares of the company’s stock valued at $25,000 after acquiring an additional 400 shares during the last quarter. Group One Trading LLC grew its stake in shares of iShares Global Energy ETF by 250.0% in the fourth quarter. Group One Trading LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in iShares Global Energy ETF during the 4th quarter valued at about $30,000. Pin Oak Investment Advisors Inc. purchased a new position in iShares Global Energy ETF during the 3rd quarter valued at about $30,000. Finally, AlphaCore Capital LLC raised its position in iShares Global Energy ETF by 109.7% during the 4th quarter. AlphaCore Capital LLC now owns 734 shares of the company’s stock valued at $31,000 after purchasing an additional 384 shares during 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.