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

iShares Global Materials ETF (NYSEARCA:MXI) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $111.23 and traded as low as $108.33. iShares Global Materials ETF shares last traded at $108.99, with a volume of 8,180 shares trading hands.

iShares Global Materials ETF Trading Up 0.3%

The company has a market capitalization of $437.32 million, a price-to-earnings ratio of 18.88 and a beta of 0.89. The stock has a 50-day simple moving average of $111.33 and a 200-day simple moving average of $109.58.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of iShares Global Materials ETF by 57.2% in the 1st quarter. Bank of America Corp DE now owns 117,422 shares of the company’s stock worth $12,473,000 after purchasing an additional 42,740 shares during the last quarter. Financial Management Professionals Inc. grew its stake in iShares Global Materials ETF by 12.9% in the second quarter. Financial Management Professionals Inc. now owns 22,615 shares of the company’s stock worth $2,394,000 after purchasing an additional 2,581 shares in the last quarter. Palladiem LLC acquired a new position in iShares Global Materials ETF in the fourth quarter worth about $2,246,000. J. Safra Sarasin Holding AG increased its holdings in iShares Global Materials ETF by 5.6% in the first quarter. J. Safra Sarasin Holding AG now owns 14,252 shares of the company’s stock valued at $1,514,000 after buying an additional 750 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in iShares Global Materials ETF in the second quarter valued at about $967,000.

About iShares Global Materials ETF

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.