iShares Global Energy ETF (NYSEARCA:IXC) Shares Gap Down – Here’s Why

iShares Global Energy ETF (NYSEARCA:IXC) gapped down prior to trading on Monday . The stock had previously closed at $54.16, but opened at $51.20. iShares Global Energy ETF shares last traded at $51.44, with a volume of 495,368 shares changing hands.

iShares Global Energy ETF Stock Performance

The company’s fifty day moving average price is $54.71 and its 200 day moving average price is $50.26. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 13.85 and a beta of 0.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IXC. Parallel Advisors LLC lifted its position in iShares Global Energy ETF by 51.9% in the 1st quarter. Parallel Advisors LLC now owns 629 shares of the company’s stock valued at $36,000 after purchasing an additional 215 shares during the last quarter. NewEdge Advisors LLC lifted its position in iShares Global Energy ETF by 32.4% in the 1st quarter. NewEdge Advisors LLC now owns 13,945 shares of the company’s stock valued at $803,000 after purchasing an additional 3,409 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in iShares Global Energy ETF in the 1st quarter valued at about $529,000. Royal Bank of Canada lifted its position in iShares Global Energy ETF by 28.9% in the 1st quarter. Royal Bank of Canada now owns 179,975 shares of the company’s stock valued at $10,368,000 after purchasing an additional 40,364 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in iShares Global Energy ETF in the 1st quarter valued at about $680,000.

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.