iShares Global Materials ETF (NYSEARCA:MXI) Sees Large Growth in Short Interest

iShares Global Materials ETF (NYSEARCA:MXI) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 51,461 shares, a growth of 96.9% from the December 15th total of 26,141 shares. Based on an average trading volume of 14,413 shares, the short-interest ratio is currently 3.6 days. Currently, 2.0% of the company’s stock are short sold. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 14,413 shares, the short-interest ratio is currently 3.6 days.

iShares Global Materials ETF Price Performance

MXI stock traded down $0.87 during mid-day trading on Friday, reaching $103.83. The company had a trading volume of 47,702 shares, compared to its average volume of 41,518. The company has a market capitalization of $285.53 million, a price-to-earnings ratio of 18.88 and a beta of 0.96. iShares Global Materials ETF has a 52 week low of $71.01 and a 52 week high of $105.00. The stock has a 50 day simple moving average of $95.76 and a two-hundred day simple moving average of $91.64.

Hedge Funds Weigh In On iShares Global Materials ETF

A number of institutional investors have recently added to or reduced their stakes in MXI. Perigon Wealth Management LLC lifted its stake in iShares Global Materials ETF by 65.0% in the fourth quarter. Perigon Wealth Management LLC now owns 6,190 shares of the company’s stock valued at $598,000 after acquiring an additional 2,439 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of iShares Global Materials ETF in the 4th quarter valued at about $26,000. J. Safra Sarasin Holding AG bought a new stake in shares of iShares Global Materials ETF in the 4th quarter valued at about $1,305,000. Pathway Financial Advisors LLC lifted its stake in iShares Global Materials ETF by 3.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 186,204 shares of the company’s stock valued at $18,854,000 after purchasing an additional 5,968 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in iShares Global Materials ETF by 9.8% in the 3rd quarter. Allworth Financial LP now owns 2,170 shares of the company’s stock valued at $201,000 after purchasing an additional 194 shares during 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.