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

iShares Global Materials ETF (NYSEARCA:MXI) saw a significant 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. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 75,544 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MXI. Envestnet Asset Management Inc. lifted its holdings in shares of iShares Global Materials ETF by 18.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,722 shares of the company’s stock worth $606,000 after acquiring an additional 887 shares during the period. Integrated Wealth Concepts LLC bought a new stake in iShares Global Materials ETF in the 2nd quarter valued at about $117,000. Waverly Advisors LLC bought a new stake in iShares Global Materials ETF during the 2nd quarter valued at $485,000. Ameritas Advisory Services LLC raised its position in iShares Global Materials ETF by 14.2% in the 2nd quarter. Ameritas Advisory Services LLC now owns 6,024 shares of the company’s stock valued at $638,000 after buying an additional 747 shares during the last quarter. Finally, Solstein Capital LLC purchased a new position in shares of iShares Global Materials ETF in the 2nd quarter worth approximately $967,000.

iShares Global Materials ETF Stock Performance

NYSEARCA:MXI traded up $2.15 during trading hours on Friday, hitting $108.27. The stock had a trading volume of 1,049 shares, compared to its average volume of 33,829. The business’s 50 day moving average is $111.51 and its 200-day moving average is $109.63. iShares Global Materials ETF has a one year low of $87.82 and a one year high of $118.51. The company has a market cap of $433.06 million, a price-to-earnings ratio of 18.88 and a beta of 0.89.

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.