iShares Global Materials ETF (NYSEARCA:MXI) Short Interest Up 80.7% in July

iShares Global Materials ETF (NYSEARCA:MXI) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 39,487 shares, an increase of 80.7% from the July 15th total of 21,853 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 13,246 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Investors Weigh In On iShares Global Materials ETF

Several hedge funds have recently added to or reduced their stakes in MXI. Western Wealth Management LLC bought a new position in shares of iShares Global Materials ETF during the 1st quarter valued at about $28,000. Trust Co. of Vermont purchased a new position in shares of iShares Global Materials ETF during the 2nd quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. lifted its position in iShares Global Materials ETF by 45.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 663 shares of the company’s stock worth $64,000 after buying an additional 206 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in iShares Global Materials ETF in the 4th quarter worth approximately $74,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in iShares Global Materials ETF in the 4th quarter worth approximately $79,000.

iShares Global Materials ETF Stock Down 0.6%

Shares of NYSEARCA MXI traded down $0.65 during mid-day trading on Tuesday, reaching $111.05. 1,467 shares of the company were exchanged, compared to its average volume of 30,838. iShares Global Materials ETF has a 52 week low of $87.82 and a 52 week high of $116.61. The company’s 50 day moving average price is $107.98 and its 200 day moving average price is $109.19. The stock has a market capitalization of $355.36 million, a PE ratio of 18.88 and a beta of 0.88.

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.