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

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

Global X China Consumer ETF Stock Performance

The company has a market capitalization of $260.09 million, a price-to-earnings ratio of 18.79 and a beta of 0.52. The firm has a fifty day moving average price of $20.83 and a 200-day moving average price of $20.12.

Hedge Funds Weigh In On Global X China Consumer ETF

A number of hedge funds have recently made changes to their positions in CHIQ. PNC Financial Services Group Inc. purchased a new position in shares of Global X China Consumer ETF during the fourth quarter valued at approximately $43,000. Sanctuary Advisors LLC bought a new stake in shares of Global X China Consumer ETF in the third quarter valued at $764,000. Wells Fargo & Company MN raised its stake in shares of Global X China Consumer ETF by 43.5% during 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 period. Finally, Jane Street Group LLC bought a new stake in shares of Global X China Consumer ETF during the 4th quarter valued at $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.