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BlackRock Energy ETF Sends Big Investor Fleeing as Oil Slumps

  • iShares IXC fund had 10 times average daily volume Wednesday
  • Largest energy ETFs trading at lows as oil continues slump
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Oil Hit by Surplus, Economic Concerns in Slide Near 15-Month Low

With oil hovering just above its lowest level since August 2017, at least one large investor is dumping a BlackRock Inc. exchange-traded fund tracking the global energy industry.

Two large blocks of the $1.4 billion iShares Global Energy ETF, or IXC, sold on Wednesday. The first was 1.1 million shares worth $34 million at 10:37 a.m. in New York, and the second trade was just shy of 2 million shares worth $60 million about eight minutes later. The activity pushed IXC’s turnover for the day to $144 million, the most this month and about 10 times the daily average for the past year.