iShares Global Timber & Forestry ETF (NASDAQ:WOOD) Trading 2.2% Higher – Should You Buy?

iShares Global Timber & Forestry ETF (NASDAQ:WOOD) shares rose 2.2% on Thursday . The stock traded as high as $67.30 and last traded at $67.30. Approximately 7,719 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 29,518 shares. The stock had previously closed at $65.84.

iShares Global Timber & Forestry ETF Trading Up 2.2%

The firm has a fifty day moving average of $68.64 and a two-hundred day moving average of $72.01. The company has a market cap of $246.32 million, a PE ratio of 16.65 and a beta of 0.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new position in iShares Global Timber & Forestry ETF during the 3rd quarter valued at about $29,000. Fifth Third Bancorp purchased a new position in iShares Global Timber & Forestry ETF during the 1st quarter valued at about $142,000. JPMorgan Chase & Co. grew its holdings in iShares Global Timber & Forestry ETF by 506.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,086 shares of the company’s stock valued at $153,000 after buying an additional 1,742 shares in the last quarter. Bank of Montreal Can grew its holdings in iShares Global Timber & Forestry ETF by 559.4% during the 4th quarter. Bank of Montreal Can now owns 2,697 shares of the company’s stock valued at $194,000 after buying an additional 2,288 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in iShares Global Timber & Forestry ETF by 10,636.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,684 shares of the company’s stock valued at $202,000 after buying an additional 2,659 shares in the last quarter.

iShares Global Timber & Forestry ETF Company Profile

iShares Global Timber & Forestry ETF, formerly iShares S&P Global Timber & Forestry Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global Timber & Forestry Index (the Index). The Index consists of approximately 25 publicly-traded companies engaged in the ownership, management or upstream supply chain of forests and timberlands. These include forest products companies, timber real estate investment trusts (REITs), paper products companies, paper packaging companies and agricultural products companies.