iShares Global Comm Services ETF (NYSEARCA:IXP) Sees Unusually-High Trading Volume – Should You Buy?

Shares of iShares Global Comm Services ETF (NYSEARCA:IXP) saw strong trading volume on Wednesday. Approximately 111,616 shares were traded during mid-day trading, an increase of 169% from the previous session’s volume of 41,467 shares. The stock last traded at $117.33 and had previously closed at $119.25.

iShares Global Comm Services ETF Price Performance

The company’s 50-day moving average price is $118.30 and its two-hundred day moving average price is $118.71. The company has a market capitalization of $611.67 million, a price-to-earnings ratio of 19.46 and a beta of 0.88.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IXP. Rockland Trust Co. bought a new stake in shares of iShares Global Comm Services ETF during the 3rd quarter valued at about $4,003,000. Corient Private Wealth LLC lifted its stake in iShares Global Comm Services ETF by 2.3% in the fourth quarter. Corient Private Wealth LLC now owns 27,267 shares of the company’s stock valued at $3,305,000 after buying an additional 622 shares during the period. World Investment Advisors lifted its stake in iShares Global Comm Services ETF by 3.0% in the fourth quarter. World Investment Advisors now owns 19,550 shares of the company’s stock valued at $2,370,000 after buying an additional 577 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of iShares Global Comm Services ETF by 7.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 16,869 shares of the company’s stock worth $1,904,000 after buying an additional 1,101 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of iShares Global Comm Services ETF by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,972 shares of the company’s stock worth $1,577,000 after buying an additional 772 shares in the last quarter.

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.