iShares Global Comm Services ETF (NYSEARCA:IXP) Sees Large Volume Increase – Here’s Why

iShares Global Comm Services ETF (NYSEARCA:IXP) shares saw unusually-strong trading volume on Tuesday . Approximately 98,430 shares changed hands during trading, an increase of 80% from the previous session’s volume of 54,567 shares.The stock last traded at $120.05 and had previously closed at $120.31.

iShares Global Comm Services ETF Stock Performance

The firm has a 50 day moving average price of $121.40 and a two-hundred day moving average price of $121.59. The company has a market capitalization of $700.83 million, a P/E ratio of 19.46 and a beta of 0.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IXP. NewEdge Advisors LLC boosted its stake in iShares Global Comm Services ETF by 4.6% in the first quarter. NewEdge Advisors LLC now owns 4,222 shares of the company’s stock worth $410,000 after purchasing an additional 184 shares in the last quarter. Jane Street Group LLC increased its position in iShares Global Comm Services ETF by 56.7% in the 1st quarter. Jane Street Group LLC now owns 30,256 shares of the company’s stock valued at $2,935,000 after acquiring an additional 10,943 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of iShares Global Comm Services ETF in the second quarter worth about $270,000. Envestnet Asset Management Inc. lifted its position in shares of iShares Global Comm Services ETF by 4.0% during the second quarter. Envestnet Asset Management Inc. now owns 9,555 shares of the company’s stock worth $1,073,000 after purchasing an additional 364 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in shares of iShares Global Comm Services ETF by 4.1% during the second quarter. Transcend Capital Advisors LLC now owns 2,489 shares of the company’s stock valued at $280,000 after purchasing an additional 97 shares during 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.