iShares Global Materials ETF (NYSEARCA:MXI) Stock Break Below 200 Day Moving Average – Here’s What Happened

iShares Global Materials ETF (NYSEARCA:MXI)’s stock price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $109.55 and traded as low as $108.93. iShares Global Materials ETF shares last traded at $109.21, with a volume of 13,678 shares traded.

iShares Global Materials ETF Stock Performance

The company has a market cap of $404.08 million, a PE ratio of 19.36 and a beta of 0.89. The firm has a fifty day simple moving average of $109.44 and a 200 day simple moving average of $109.55.

Institutional Investors Weigh In On iShares Global Materials ETF

Several hedge funds and other institutional investors have recently modified their holdings of MXI. Pictet Asset Management Holding SA grew its stake in iShares Global Materials ETF by 194.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 556,100 shares of the company’s stock worth $59,685,000 after buying an additional 367,400 shares during the last quarter. HighTower Advisors LLC acquired a new position in iShares Global Materials ETF during the third quarter worth $11,140,000. Banco Santander S.A. purchased a new position in iShares Global Materials ETF in the third quarter valued at $4,669,000. Bank of America Corp DE increased its holdings in iShares Global Materials ETF by 57.2% in the first quarter. Bank of America Corp DE now owns 117,422 shares of the company’s stock valued at $12,473,000 after buying an additional 42,740 shares during the last quarter. Finally, Weil Company Inc. acquired a new position in shares of iShares Global Materials ETF in the 3rd quarter valued at $2,718,000.

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.