iShares Global Materials ETF (NYSEARCA:MXI) Short Interest Down 43.1% in June

iShares Global Materials ETF (NYSEARCA:MXI) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 15,418 shares, a decline of 43.1% from the May 31st total of 27,101 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 15,376 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On iShares Global Materials ETF

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in iShares Global Materials ETF by 57.2% during the first quarter. Bank of America Corp DE now owns 117,422 shares of the company’s stock worth $12,473,000 after buying an additional 42,740 shares during the last quarter. Jane Street Group LLC bought a new position in shares of iShares Global Materials ETF in the first quarter valued at approximately $3,378,000. Stratos Wealth Partners LTD. acquired a new position in shares of iShares Global Materials ETF in the 4th quarter worth approximately $2,626,000. Palladiem LLC acquired a new position in shares of iShares Global Materials ETF in the 4th quarter worth approximately $2,246,000. Finally, UMB Bank n.a. bought a new stake in iShares Global Materials ETF during the 4th quarter worth approximately $1,570,000.

iShares Global Materials ETF Stock Up 1.7%

NYSEARCA:MXI traded up $1.82 during trading hours on Thursday, reaching $107.78. The company had a trading volume of 33,132 shares, compared to its average volume of 34,883. The stock has a 50-day moving average of $110.34 and a two-hundred day moving average of $107.62. iShares Global Materials ETF has a one year low of $83.50 and a one year high of $116.61. The firm has a market capitalization of $350.29 million, a PE ratio of 18.88 and a beta of 0.88.

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.