iShares Global Materials ETF (NYSEARCA:MXI) Sees Significant Decrease in Short Interest

iShares Global Materials ETF (NYSEARCA:MXI) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 26,739 shares, a drop of 43.3% from the August 31st total of 47,182 shares. Based on an average daily trading volume, of 75,544 shares, the short-interest ratio is currently 0.4 days. Approximately 0.7% of the company’s shares are sold short.

Institutional Investors Weigh In On iShares Global Materials ETF

A number of hedge funds have recently added to or reduced their stakes in MXI. Envestnet Asset Management Inc. lifted its holdings in shares of iShares Global Materials ETF by 18.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,722 shares of the company’s stock worth $606,000 after purchasing an additional 887 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in iShares Global Materials ETF in the 2nd quarter valued at about $117,000. Waverly Advisors LLC acquired a new position in iShares Global Materials ETF during the 2nd quarter valued at about $485,000. Ameritas Advisory Services LLC increased its holdings in iShares Global Materials ETF by 14.2% during the 2nd quarter. Ameritas Advisory Services LLC now owns 6,024 shares of the company’s stock worth $638,000 after purchasing an additional 747 shares in the last quarter. Finally, Solstein Capital LLC bought a new position in shares of iShares Global Materials ETF in the second quarter valued at approximately $967,000.

iShares Global Materials ETF Trading Down 0.5%

MXI stock traded down $0.59 during midday trading on Wednesday, hitting $106.99. The stock had a trading volume of 9,879 shares, compared to its average volume of 34,142. The firm has a market cap of $427.96 million, a P/E ratio of 18.88 and a beta of 0.89. The business has a fifty day moving average price of $111.48 and a two-hundred day moving average price of $109.61. iShares Global Materials ETF has a 1-year low of $87.82 and a 1-year high of $118.51.

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.