iShares Global Materials ETF (NYSEARCA:MXI) Sees Large Increase in Short Interest

iShares Global Materials ETF (NYSEARCA:MXI) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 39,487 shares, a growth of 80.7% from the July 15th total of 21,853 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 13,246 shares, the short-interest ratio is presently 3.0 days.

Institutional Investors Weigh In On iShares Global Materials ETF

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its position in shares of 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 in the last quarter. Jane Street Group LLC bought a new position in iShares Global Materials ETF in the 1st quarter valued at about $3,378,000. Palladiem LLC bought a new position in iShares Global Materials ETF in the 4th quarter valued at about $2,246,000. UMB Bank n.a. bought a new position in iShares Global Materials ETF in the 4th quarter valued at about $1,570,000. Finally, Citadel Advisors LLC boosted its stake in iShares Global Materials ETF by 40.5% during the 3rd quarter. Citadel Advisors LLC now owns 22,757 shares of the company’s stock valued at $2,104,000 after purchasing an additional 6,561 shares during the last quarter.

iShares Global Materials ETF Stock Up 0.4%

iShares Global Materials ETF stock traded up $0.40 during trading hours on Monday, hitting $111.70. The stock had a trading volume of 9,483 shares, compared to its average volume of 31,029. The business’s 50 day simple moving average is $107.98 and its 200-day simple moving average is $109.19. iShares Global Materials ETF has a one year low of $87.82 and a one year high of $116.61. The stock has a market cap of $357.44 million, a price-to-earnings ratio of 18.88 and a beta of 0.88.

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.