Global X China Consumer ETF (NYSEARCA:CHIQ) Trading 3% Higher – Time to Buy?

Shares of Global X China Consumer ETF (NYSEARCA:CHIQ) traded up 3% during mid-day trading on Monday . The company traded as high as $24.07 and last traded at $24.06. 178,305 shares traded hands during trading, an increase of 133% from the average session volume of 76,426 shares. The stock had previously closed at $23.37.

Global X China Consumer ETF Stock Up 3.0 %

The business has a 50-day moving average price of $20.73 and a two-hundred day moving average price of $20.06. The company has a market cap of $261.77 million, a P/E ratio of 18.79 and a beta of 0.52.

Hedge Funds Weigh In On Global X China Consumer ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in shares of Global X China Consumer ETF in the fourth quarter valued at approximately $43,000. Wells Fargo & Company MN lifted its stake in Global X China Consumer ETF by 43.5% in the 4th quarter. Wells Fargo & Company MN now owns 35,687 shares of the company’s stock valued at $677,000 after purchasing an additional 10,821 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Global X China Consumer ETF in the 3rd quarter valued at about $764,000. Finally, Jane Street Group LLC bought a new position in shares of Global X China Consumer ETF during the 4th quarter worth approximately $1,100,000.

About Global X China Consumer ETF

Global X China Consumer ETF (the Fund) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive China Consumer Index (the Underlying Index). The Underlying Index is a free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure performance of the investable universe of companies in the Consumer sector of the Chinese economy, as defined by Structured Solutions AG.