iShares Global Financials ETF (NYSEARCA:IXG) Reaches New 1-Year High – Still a Buy?

iShares Global Financials ETF (NYSEARCA:IXG)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $117.98 and last traded at $117.83, with a volume of 16056 shares traded. The stock had previously closed at $116.81.

iShares Global Financials ETF Price Performance

The company has a 50-day moving average price of $115.37 and a two-hundred day moving average price of $112.06. The company has a market cap of $607.69 million, a PE ratio of 14.77 and a beta of 0.93.

Hedge Funds Weigh In On iShares Global Financials ETF

Large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in iShares Global Financials ETF by 12.8% during the second quarter. Bank of America Corp DE now owns 282,050 shares of the company’s stock valued at $31,257,000 after buying an additional 32,026 shares in the last quarter. Johnson Bixby & Associates LLC raised its position in shares of iShares Global Financials ETF by 1.1% during the 3rd quarter. Johnson Bixby & Associates LLC now owns 131,068 shares of the company’s stock valued at $15,292,000 after acquiring an additional 1,443 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in iShares Global Financials ETF by 6,907.8% during the first quarter. Jones Financial Companies Lllp now owns 124,388 shares of the company’s stock worth $12,814,000 after purchasing an additional 122,613 shares during the last quarter. EWG Elevate Inc. lifted its stake in iShares Global Financials ETF by 3.5% during the third quarter. EWG Elevate Inc. now owns 104,843 shares of the company’s stock worth $12,232,000 after purchasing an additional 3,539 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in iShares Global Financials ETF by 1,681.5% in the third quarter. Envestnet Asset Management Inc. now owns 96,574 shares of the company’s stock worth $11,268,000 after purchasing an additional 91,153 shares during the period.

About iShares Global Financials ETF

Ishares S&P Global Financials Sector Index Fund, formerly iShares Global Financials ETF (the Fund), is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of companies that Standard & Poor’s deems part of the financial sector of the economy and important to global markets, as represented by the S&P Global 1200 Financials Sector Index (the Index).