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

Shares of iShares Global Materials ETF (NYSEARCA:MXI) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $83.25 and traded as low as $77.34. iShares Global Materials ETF shares last traded at $78.10, with a volume of 10,996 shares traded.

iShares Global Materials ETF Trading Up 0.5 %

The business has a 50 day simple moving average of $83.25 and a two-hundred day simple moving average of $86.10. The company has a market cap of $226.49 million, a PE ratio of 10.97 and a beta of 0.95.

Institutional Investors Weigh In On iShares Global Materials ETF

Several hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in iShares Global Materials ETF by 160.2% during the third quarter. FMR LLC now owns 601 shares of the company’s stock valued at $56,000 after acquiring an additional 370 shares during the period. Patriot Investment Management Group Inc. purchased a new stake in shares of iShares Global Materials ETF during the 3rd quarter worth about $214,000. Tyler Stone Wealth Management increased its position in iShares Global Materials ETF by 100.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 2,607 shares of the company’s stock worth $243,000 after purchasing an additional 1,304 shares in the last quarter. Creative Planning raised its holdings in iShares Global Materials ETF by 21.4% in the second quarter. Creative Planning now owns 7,988 shares of the company’s stock valued at $678,000 after buying an additional 1,408 shares during the period. Finally, Gladstone Institutional Advisory LLC lifted its position in iShares Global Materials ETF by 9.9% during the third quarter. Gladstone Institutional Advisory LLC now owns 11,441 shares of the company’s stock valued at $1,067,000 after buying an additional 1,028 shares in 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).