iShares Global Materials ETF (NYSEARCA:MXI) Stock Price Pass Above Fifty Day Moving Average – Here’s Why

iShares Global Materials ETF (NYSEARCA:MXI) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $108.45 and traded as high as $110.92. iShares Global Materials ETF shares last traded at $109.43, with a volume of 41,367 shares.

iShares Global Materials ETF Stock Performance

The firm has a 50 day simple moving average of $108.45 and a 200 day simple moving average of $103.23. The firm has a market cap of $328.29 million, a P/E ratio of 18.88 and a beta of 0.87.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Lodestone Wealth Management LLC purchased a new stake in shares of iShares Global Materials ETF in the 4th quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of iShares Global Materials ETF by 45.1% in the 4th 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. Kestra Advisory Services LLC purchased a new stake in shares of iShares Global Materials ETF in the 4th quarter valued at about $74,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of iShares Global Materials ETF in the 4th quarter valued at about $79,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of iShares Global Materials ETF by 20.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 985 shares of the company’s stock valued at $95,000 after acquiring an additional 164 shares in the last quarter.

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.