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

iShares Global Materials ETF (NYSEARCA:MXI) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $108.66 and traded as low as $105.57. iShares Global Materials ETF shares last traded at $106.45, with a volume of 15,359 shares trading hands.

iShares Global Materials ETF Stock Performance

The stock has a fifty day moving average of $108.66 and a 200 day moving average of $108.48. The company has a market capitalization of $340.64 million, a PE ratio of 18.88 and a beta of 0.88.

Institutional Investors Weigh In On iShares Global Materials ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lodestone Wealth Management LLC purchased a new position in shares of iShares Global Materials ETF in the fourth quarter worth $26,000. Western Wealth Management LLC purchased a new position in iShares Global Materials ETF during the first quarter valued at $28,000. Northwestern Mutual Wealth Management Co. grew its stake in iShares Global Materials ETF by 45.1% during 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. Kestra Advisory Services LLC purchased a new position in iShares Global Materials ETF during the fourth quarter valued at $74,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in iShares Global Materials ETF in the 4th quarter valued at $79,000.

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.