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

Shares of iShares Global Materials ETF (NYSEARCA:MXI) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $107.91 and traded as high as $113.04. iShares Global Materials ETF shares last traded at $112.99, with a volume of 9,155 shares.

iShares Global Materials ETF Stock Performance

The stock has a 50 day moving average price of $107.91 and a two-hundred day moving average price of $108.93. The company has a market capitalization of $361.57 million, a PE ratio of 18.88 and a beta of 0.88.

Hedge Funds Weigh In On iShares Global Materials ETF

A number of hedge funds have recently added to or reduced their stakes in MXI. Western Wealth Management LLC acquired a new stake in iShares Global Materials ETF in the first quarter valued at approximately $28,000. Trust Co. of Vermont bought a new stake in iShares Global Materials ETF in the second quarter worth approximately $40,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of iShares Global Materials ETF by 45.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 663 shares of the company’s stock worth $64,000 after purchasing an additional 206 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of iShares Global Materials ETF during the 4th quarter worth $74,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of iShares Global Materials ETF during the 4th quarter valued at $79,000.

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.