iShares Global Comm Services ETF (NYSEARCA:IXP) Sees Large Volume Increase – Time to Buy?

iShares Global Comm Services ETF (NYSEARCA:IXP) shares saw an uptick in trading volume on Wednesday. 348,265 shares traded hands during mid-day trading, an increase of 628% from the previous session’s volume of 47,829 shares. The stock last traded at $115.21 and had previously closed at $116.24.

iShares Global Comm Services ETF Price Performance

The stock’s 50 day simple moving average is $118.23 and its two-hundred day simple moving average is $118.77. The stock has a market capitalization of $593.49 million, a PE ratio of 19.46 and a beta of 0.88.

Institutional Investors Weigh In On iShares Global Comm Services ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AMI Asset Management Corp purchased a new position in shares of iShares Global Comm Services ETF in the 3rd quarter worth about $849,000. Meridian Investment Counsel Inc. purchased a new stake in shares of iShares Global Comm Services ETF during the third quarter worth about $739,000. Rockland Trust Co. purchased a new stake in shares of iShares Global Comm Services ETF during the 3rd quarter worth approximately $4,003,000. Envestnet Asset Management Inc. raised its stake in shares of iShares Global Comm Services ETF by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 13,972 shares of the company’s stock valued at $1,577,000 after acquiring an additional 772 shares during the period. Finally, Integrated Wealth Concepts LLC increased its position in shares of iShares Global Comm Services ETF by 7.0% during the second quarter. Integrated Wealth Concepts LLC now owns 16,869 shares of the company’s stock worth $1,904,000 after acquiring an additional 1,101 shares during the period.

iShares Global Comm Services ETF Company Profile

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.