iShares Global Materials ETF (NYSEARCA:MXI) Sees Significant Decrease in Short Interest

iShares Global Materials ETF (NYSEARCA:MXI) saw a significant decrease in short interest in September. As of September 15th, there was short interest totaling 26,739 shares, a decrease of 43.3% from the August 31st total of 47,182 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 75,544 shares, the short-interest ratio is presently 0.4 days.

iShares Global Materials ETF Stock Performance

Shares of MXI traded down $0.59 during trading hours on Wednesday, reaching $106.99. The stock had a trading volume of 9,879 shares, compared to its average volume of 34,142. iShares Global Materials ETF has a 12 month low of $87.82 and a 12 month high of $118.51. The stock has a market capitalization of $427.96 million, a PE ratio of 18.88 and a beta of 0.89. The company’s 50-day moving average is $111.48 and its two-hundred day moving average is $109.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in iShares Global Materials ETF by 57.2% during the 1st quarter. Bank of America Corp DE now owns 117,422 shares of the company’s stock worth $12,473,000 after buying an additional 42,740 shares during the period. Palladiem LLC acquired a new position in iShares Global Materials ETF during the 4th quarter worth about $2,246,000. Solstein Capital LLC acquired a new position in iShares Global Materials ETF during the 2nd quarter worth about $967,000. Cetera Investment Advisers bought a new stake in shares of iShares Global Materials ETF in the 1st quarter valued at about $587,000. Finally, Waverly Advisors LLC bought a new position in shares of iShares Global Materials ETF during the second quarter worth about $485,000.

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.