iShares Global Energy ETF (NYSEARCA:IXC) Sets New 52-Week High – Still a Buy?

Shares of iShares Global Energy ETF (NYSEARCA:IXC) reached a new 52-week high during trading on Tuesday . The company traded as high as $59.68 and last traded at $59.5310, with a volume of 27115 shares trading hands. The stock had previously closed at $58.41.

iShares Global Energy ETF Price Performance

The business’s 50 day moving average is $54.82 and its two-hundred day moving average is $54.27. The firm has a market capitalization of $3.06 billion, a PE ratio of 13.85 and a beta of 0.36.

Institutional Trading of iShares Global Energy ETF

Several institutional investors have recently added to or reduced their stakes in IXC. Hsbc Holdings PLC acquired a new position in iShares Global Energy ETF during the first quarter worth $269,917,000. Fisher Asset Management LLC lifted its stake in 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 valued at $617,608,000 after buying an additional 1,127,201 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in iShares Global Energy ETF by 4,521.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 394,266 shares of the company’s stock valued at $16,532,000 after buying an additional 385,735 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of iShares Global Energy ETF in the third quarter worth approximately $7,510,000. Finally, Morningstar Investment Management LLC acquired a new position in iShares Global Energy ETF during the first quarter worth about $8,923,000.

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.