iShares Global Materials ETF (NYSEARCA:MXI) Share Price Cross Below Fifty Day Moving Average – Here’s Why

iShares Global Materials ETF (NYSEARCA:MXI)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $108.64 and traded as low as $102.38. iShares Global Materials ETF shares last traded at $102.44, with a volume of 13,285 shares traded.

iShares Global Materials ETF Price Performance

The firm has a market capitalization of $283.27 million, a P/E ratio of 18.88 and a beta of 0.96. The business has a 50 day moving average price of $108.56 and a 200 day moving average price of $98.38.

Institutional Investors Weigh In On iShares Global Materials ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp bought a new stake in iShares Global Materials ETF in the 4th quarter valued at $210,000. Osaic Holdings Inc. grew its position in iShares Global Materials ETF by 1.7% in the 4th quarter. Osaic Holdings Inc. now owns 7,853 shares of the company’s stock worth $760,000 after purchasing an additional 129 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of iShares Global Materials ETF by 121.2% during the 4th quarter. Royal Bank of Canada now owns 3,347 shares of the company’s stock worth $324,000 after purchasing an additional 1,834 shares during the period. Kestra Advisory Services LLC bought a new position in shares of iShares Global Materials ETF during the 4th quarter worth about $74,000. Finally, UMB Bank n.a. acquired a new position in shares of iShares Global Materials ETF during the fourth quarter valued at about $1,570,000.

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.