iShares Global Materials ETF (NYSEARCA:MXI) Shares Cross Below 50-Day Moving Average – Time to Sell?

Shares of iShares Global Materials ETF (NYSEARCA:MXI) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $110.59 and traded as low as $108.29. iShares Global Materials ETF shares last traded at $108.58, with a volume of 10,555 shares traded.

iShares Global Materials ETF Stock Performance

The firm has a market capitalization of $325.74 million, a P/E ratio of 18.88 and a beta of 0.86. The stock’s 50 day simple moving average is $110.59 and its 200 day simple moving average is $105.40.

Hedge Funds Weigh In On iShares Global Materials ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Pathway Financial Advisors LLC grew its stake in iShares Global Materials ETF by 3.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 186,204 shares of the company’s stock worth $18,854,000 after acquiring an additional 5,968 shares in the last quarter. Bank of America Corp DE grew its stake in 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 acquiring an additional 42,740 shares in the last quarter. HighTower Advisors LLC grew its stake in iShares Global Materials ETF by 0.3% in the 4th quarter. HighTower Advisors LLC now owns 105,893 shares of the company’s stock worth $10,234,000 after acquiring an additional 353 shares in the last quarter. Jane Street Group LLC bought a new position in iShares Global Materials ETF in the 1st quarter worth about $3,378,000. Finally, LPL Financial LLC grew its stake in iShares Global Materials ETF by 2.5% in the 4th quarter. LPL Financial LLC now owns 32,388 shares of the company’s stock worth $3,130,000 after acquiring an additional 805 shares in the last quarter.

iShares Global Materials ETF Company Profile

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.