iShares Global Materials ETF (NYSEARCA:MXI) Short Interest Up 49.8% in August

iShares Global Materials ETF (NYSEARCA:MXI) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 59,150 shares, an increase of 49.8% from the July 30th total of 39,487 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 15,956 shares, the days-to-cover ratio is currently 3.7 days.

iShares Global Materials ETF Stock Performance

iShares Global Materials ETF stock traded down $1.09 on Tuesday, reaching $114.36. The company’s stock had a trading volume of 20,621 shares, compared to its average volume of 33,059. The business’s fifty day moving average price is $109.03 and its 200 day moving average price is $109.66. iShares Global Materials ETF has a twelve month low of $87.82 and a twelve month high of $118.51. The company has a market cap of $365.95 million, a price-to-earnings ratio of 18.88 and a beta of 0.88.

Hedge Funds Weigh In On iShares Global Materials ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC acquired a new stake in iShares Global Materials ETF during the 1st quarter worth $28,000. Trust Co. of Vermont acquired a new position in shares of iShares Global Materials ETF in the 2nd quarter valued at $40,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of iShares Global Materials ETF by 45.1% in 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 bought a new position in shares of iShares Global Materials ETF in the 4th quarter worth $74,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of iShares Global Materials ETF in the 4th quarter worth $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.