iShares Global Materials ETF (NYSEARCA:MXI) Stock Price Pass Below 50 Day Moving Average – What’s Next?

iShares Global Materials ETF (NYSEARCA:MXI) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $89.23 and traded as low as $88.77. iShares Global Materials ETF shares last traded at $88.84, with a volume of 3,777 shares.

iShares Global Materials ETF Stock Down 0.4 %

The business has a 50-day moving average price of $89.23 and a 200-day moving average price of $87.80. The firm has a market capitalization of $257.64 million, a price-to-earnings ratio of 10.97 and a beta of 0.95.

Institutional Investors Weigh In On iShares Global Materials ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MXI. CWM LLC lifted its stake in shares of iShares Global Materials ETF by 121.9% during the second quarter. CWM LLC now owns 466 shares of the company’s stock worth $40,000 after buying an additional 256 shares during the period. Patriot Investment Management Group Inc. acquired a new stake in iShares Global Materials ETF during the 3rd quarter worth about $214,000. Viawealth LLC acquired a new position in shares of iShares Global Materials ETF in the first quarter valued at about $344,000. Commonwealth Equity Services LLC raised its stake in shares of iShares Global Materials ETF by 52.8% in the first quarter. Commonwealth Equity Services LLC now owns 6,366 shares of the company’s stock worth $569,000 after purchasing an additional 2,201 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of iShares Global Materials ETF by 21.4% during the second quarter. Creative Planning now owns 7,988 shares of the company’s stock worth $678,000 after purchasing an additional 1,408 shares during the period.

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).