Short Interest in iShares Global Materials ETF (NYSEARCA:MXI) Declines By 71.7%

iShares Global Materials ETF (NYSEARCA:MXI) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 32,665 shares, a decline of 71.7% from the February 12th total of 115,281 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average trading volume of 66,195 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 66,195 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.1% of the company’s stock are sold short.

iShares Global Materials ETF Stock Performance

iShares Global Materials ETF stock traded down $0.94 during trading on Friday, reaching $105.22. 2,458 shares of the company’s stock were exchanged, compared to its average volume of 41,834. iShares Global Materials ETF has a 52-week low of $71.01 and a 52-week high of $116.61. The firm has a market cap of $305.14 million, a price-to-earnings ratio of 18.88 and a beta of 0.96. The company’s 50-day moving average is $108.28 and its two-hundred day moving average is $97.85.

Institutional Investors Weigh In On iShares Global Materials ETF

Several institutional investors and hedge funds have recently modified their holdings of MXI. Lodestone Wealth Management LLC purchased a new position in shares of iShares Global Materials ETF during the 4th quarter valued at approximately $26,000. Farther Finance Advisors LLC bought a new stake in shares of iShares Global Materials ETF in the third quarter worth $49,000. Northwestern Mutual Wealth Management Co. raised its holdings in iShares Global Materials ETF by 45.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 663 shares of the company’s stock valued at $64,000 after acquiring an additional 206 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in iShares Global Materials ETF by 82.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 821 shares of the company’s stock valued at $70,000 after acquiring an additional 371 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in iShares Global Materials ETF during the 4th quarter valued at $74,000.

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.