iShares Global Materials ETF (NYSEARCA:MXI) Stock Pass Below 50-Day Moving Average – Here’s What Happened

iShares Global Materials ETF (NYSEARCA:MXI)’s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $109.66 and traded as low as $106.15. iShares Global Materials ETF shares last traded at $106.15, with a volume of 6,175 shares changing hands.

iShares Global Materials ETF Stock Up 1.5%

The company has a 50 day moving average of $109.66 and a 200 day moving average of $108.17. The firm has a market cap of $339.68 million, a price-to-earnings ratio of 18.88 and a beta of 0.88.

Institutional Investors Weigh In On iShares Global Materials ETF

Several hedge funds and other institutional investors have recently bought and sold shares of MXI. Bank of America Corp DE raised its stake in iShares Global Materials ETF by 57.2% during the first quarter. Bank of America Corp DE now owns 117,422 shares of the company’s stock worth $12,473,000 after acquiring an additional 42,740 shares during the period. Jane Street Group LLC acquired a new position in iShares Global Materials ETF in the first quarter valued at approximately $3,378,000. Stratos Wealth Partners LTD. acquired a new position in iShares Global Materials ETF in the fourth quarter valued at approximately $2,626,000. Palladiem LLC acquired a new position in iShares Global Materials ETF in the fourth quarter valued at approximately $2,246,000. Finally, UMB Bank n.a. bought a new position in shares of iShares Global Materials ETF during the fourth quarter valued at approximately $1,570,000.

About iShares Global Materials ETF

iShares Global Materials ETF, formerly iShares S&P Global Materials Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P Global Materials Sector Index (the Index). The Index is a subset of the S&P Global 1200 Index and measures the performance of companies that S&P deems to be part of the materials sector of the economy. Component companies include those companies engaged in a wide variety of commodity-related manufacturing and mining activities.