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

iShares Global Materials ETF (NYSEARCA:MXI) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $108.64 and traded as low as $102.38. iShares Global Materials ETF shares last traded at $102.44, with a volume of 13,285 shares traded.

iShares Global Materials ETF Trading Down 2.7%

The stock’s 50 day moving average price is $108.64 and its 200 day moving average price is $98.31. The firm has a market cap of $297.08 million, a PE ratio of 18.88 and a beta of 0.96.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp acquired a new position in shares of iShares Global Materials ETF during the fourth quarter worth about $210,000. Osaic Holdings Inc. boosted its position in shares of iShares Global Materials ETF by 1.7% in the fourth quarter. Osaic Holdings Inc. now owns 7,853 shares of the company’s stock worth $760,000 after buying an additional 129 shares during the period. Royal Bank of Canada grew its stake in shares of iShares Global Materials ETF by 121.2% in the fourth quarter. Royal Bank of Canada now owns 3,347 shares of the company’s stock valued at $324,000 after buying an additional 1,834 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of iShares Global Materials ETF during the 4th quarter valued at about $74,000. Finally, UMB Bank n.a. purchased a new stake in shares of iShares Global Materials ETF during the 4th quarter valued at about $1,570,000.

iShares Global Materials ETF Company Profile

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.