Short Interest in iShares Global Materials ETF (NYSEARCA:MXI) Drops By 79.4%

iShares Global Materials ETF (NYSEARCA:MXI) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 10,588 shares, a decrease of 79.4% from the December 31st total of 51,461 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 40,960 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 40,960 shares, the short-interest ratio is presently 0.3 days. Currently, 0.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On iShares Global Materials ETF

Several large investors have recently bought and sold shares of the company. Pathway Financial Advisors LLC boosted its stake in shares of iShares Global Materials ETF by 3.3% during the fourth 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 in the last quarter. HighTower Advisors LLC boosted its position in iShares Global Materials ETF by 0.7% during the 3rd quarter. HighTower Advisors LLC now owns 105,540 shares of the company’s stock worth $9,759,000 after buying an additional 692 shares during the period. Bank of America Corp DE boosted its position in iShares Global Materials ETF by 2.8% during the 3rd quarter. Bank of America Corp DE now owns 75,512 shares of the company’s stock worth $6,983,000 after buying an additional 2,075 shares during the period. Jane Street Group LLC bought a new stake in iShares Global Materials ETF during the 1st quarter worth approximately $3,378,000. Finally, Stratos Wealth Partners LTD. acquired a new position in iShares Global Materials ETF in the 4th quarter valued at approximately $2,626,000.

iShares Global Materials ETF Stock Down 2.5%

Shares of NYSEARCA MXI traded down $2.72 during midday trading on Friday, reaching $107.36. 6,402 shares of the company were exchanged, compared to its average volume of 38,944. The stock’s 50-day moving average price is $98.71 and its 200-day moving average price is $92.89. The stock has a market cap of $295.25 million, a P/E ratio of 18.88 and a beta of 0.96. iShares Global Materials ETF has a one year low of $71.01 and a one year high of $111.96.

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.