Short Interest in iShares Global Materials ETF (NYSEARCA:MXI) Increases By 80.7%
by Jessica Moore · The Cerbat GemiShares Global Materials ETF (NYSEARCA:MXI – Get Free Report) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 39,487 shares, an increase of 80.7% from the July 15th total of 21,853 shares. Based on an average daily volume of 13,246 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.2% of the shares of the stock are sold short.
iShares Global Materials ETF Stock Up 0.1%
Shares of MXI stock traded up $0.09 during trading on Friday, hitting $111.30. The company had a trading volume of 8,234 shares, compared to its average volume of 31,168. The stock’s 50-day moving average is $107.90 and its two-hundred day moving average is $109.17. The stock has a market capitalization of $356.16 million, a price-to-earnings ratio of 18.88 and a beta of 0.88. iShares Global Materials ETF has a 52 week low of $87.82 and a 52 week high of $116.61.
Hedge Funds Weigh In On iShares Global Materials ETF
Hedge funds have recently modified their holdings of the company. Western Wealth Management LLC purchased a new position in shares of iShares Global Materials ETF during the first quarter valued at approximately $28,000. Trust Co. of Vermont bought a new stake in iShares Global Materials ETF in the second quarter valued at $40,000. Northwestern Mutual Wealth Management Co. increased its position in iShares Global Materials ETF by 45.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 663 shares of the company’s stock valued at $64,000 after purchasing an additional 206 shares during the period. Kestra Advisory Services LLC purchased a new position in iShares Global Materials ETF during the 4th quarter valued at $74,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in iShares Global Materials ETF in the 4th quarter worth $79,000.
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.