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

iShares Global Comm Services ETF (NYSEARCA:IXP) shares saw unusually-high trading volume on Monday . Approximately 110,991 shares traded hands during mid-day trading, an increase of 204% from the previous session’s volume of 36,531 shares.The stock last traded at $114.51 and had previously closed at $117.39.

iShares Global Comm Services ETF Price Performance

The stock has a market capitalization of $556.39 million, a PE ratio of 19.46 and a beta of 0.89. The company’s 50 day moving average price is $121.88 and its two-hundred day moving average price is $120.93.

Institutional Trading of iShares Global Comm Services ETF

Hedge funds have recently bought and sold shares of the business. One Charles Private Wealth Services LLC lifted its stake in iShares Global Comm Services ETF by 6.6% in the 1st quarter. One Charles Private Wealth Services LLC now owns 3,545 shares of the company’s stock worth $407,000 after purchasing an additional 219 shares in the last quarter. Parallel Advisors LLC grew its position in shares of iShares Global Comm Services ETF by 19.2% in the first quarter. Parallel Advisors LLC now owns 1,514 shares of the company’s stock valued at $174,000 after purchasing an additional 244 shares in the last quarter. Bessemer Group Inc. grew its position in shares of iShares Global Comm Services ETF by 6.7% in the first quarter. Bessemer Group Inc. now owns 5,487 shares of the company’s stock valued at $630,000 after purchasing an additional 345 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of iShares Global Comm Services ETF by 49.0% in the first quarter. Sanctuary Advisors LLC now owns 2,662 shares of the company’s stock valued at $306,000 after purchasing an additional 876 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of iShares Global Comm Services ETF by 31.2% in the first quarter. Fifth Third Bancorp now owns 1,854 shares of the company’s stock valued at $213,000 after purchasing an additional 441 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.