iShares Global Comm Services ETF (NYSEARCA:IXP) Sees Large Volume Increase – What’s Next?

Shares of iShares Global Comm Services ETF (NYSEARCA:IXP) saw an uptick in trading volume on Friday . 204,088 shares changed hands during trading, an increase of 308% from the previous session’s volume of 50,074 shares.The stock last traded at $111.93 and had previously closed at $112.56.

iShares Global Comm Services ETF Price Performance

The stock has a market cap of $649.35 million, a PE ratio of 19.46 and a beta of 0.87. The stock has a 50-day moving average price of $120.35 and a two-hundred day moving average price of $121.75.

Hedge Funds 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. NewEdge Advisors LLC increased its stake in iShares Global Comm Services ETF by 4.6% in the 1st quarter. NewEdge Advisors LLC now owns 4,222 shares of the company’s stock worth $410,000 after acquiring an additional 184 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of iShares Global Comm Services ETF by 56.7% during the 1st quarter. Jane Street Group LLC now owns 30,256 shares of the company’s stock worth $2,935,000 after acquiring an additional 10,943 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of iShares Global Comm Services ETF by 21.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,183 shares of the company’s stock valued at $2,829,000 after acquiring an additional 4,397 shares during the last quarter. Laurel Wealth Advisors LLC boosted its position in shares of iShares Global Comm Services ETF by 10,705.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,161 shares of the company’s stock valued at $243,000 after acquiring an additional 2,141 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of iShares Global Comm Services ETF in the second quarter valued at $282,000.

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.