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

iShares Global Materials ETF (NYSEARCA:MXI) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 26,739 shares, a decline 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 presently 0.4 days. Approximately 0.7% of the shares of the stock are short sold.

iShares Global Materials ETF Price Performance

NYSEARCA MXI traded down $0.87 during mid-day trading on Thursday, hitting $106.12. The stock had a trading volume of 9,175 shares, compared to its average volume of 34,008. The firm’s 50 day moving average is $111.51 and its 200 day moving average is $109.63. The stock has a market capitalization of $424.48 million, a price-to-earnings ratio of 18.88 and a beta of 0.89. iShares Global Materials ETF has a twelve month low of $87.82 and a twelve month high of $118.51.

Hedge Funds Weigh In On iShares Global Materials ETF

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