iShares Global Materials ETF (NYSEARCA:MXI) Shares Pass Above Fifty Day Moving Average – Should You Sell?

iShares Global Materials ETF (NYSEARCA:MXI) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $109.09 and traded as high as $113.20. iShares Global Materials ETF shares last traded at $110.78, with a volume of 4,249 shares changing hands.

iShares Global Materials ETF Stock Down 2.3%

The company has a 50-day moving average price of $109.09 and a two-hundred day moving average price of $101.12. The stock has a market capitalization of $332.34 million, a P/E ratio of 18.88 and a beta of 0.92.

Institutional Investors Weigh In On iShares Global Materials ETF

Several hedge funds and other institutional investors have recently modified their holdings of MXI. Lodestone Wealth Management LLC bought a new stake in shares of iShares Global Materials ETF during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC bought a new stake in shares of iShares Global Materials ETF during the third quarter valued at about $49,000. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 buying an additional 206 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of iShares Global Materials ETF during the fourth quarter valued at about $74,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of iShares Global Materials ETF during the fourth quarter valued at about $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.