Sunbelt Securities Inc. Trims Stake in iShares Global Materials ETF

Investment firm Sunbelt Securities Inc. has reduced their investment in the iShares Global Materials ETF (NYSEARCA:MXI), according to recent filings with the Securities and Exchange Commission (SEC). In a strategic move during the third quarter, Sunbelt Securities sold off approximately 27.1% of its holdings in the ETF, amounting to a sale of 238 shares. Following this transaction, the firm now retains 641 shares in the ETF, with an estimated value of $50,000.

Other Investors' Activity

The ETF has witnessed varying levels of activity from several other institutional investors and hedge funds in the same quarter. Notably, Comerica Bank initiated a new stake worth roughly $149,000. HighTower Advisors LLC slightly increased their holdings by 1.9%, now owning 81,164 shares valued at $6,364,000. There was a significant uptick in the position of OVERSEA CHINESE BANKING Corp Ltd, which doubled its stake to 46,768 shares, now worth about $3,661,000. Pathway Financial Advisors LLC and Perigon Wealth Management LLC also incremented their shares by 2.0% and 5.5%, respectively.

iShares Global Materials ETF Overview

The iShares Global Materials ETF has shown a marginal price increase recently, opening at $87.20. It boasts a market capitalization of $309.56 million, with a price-to-earnings ratio of 9.83 and a beta of 1.01, indicating its volatility relative to the market. The ETF has a 50-day simple moving average of $83.50 and a longer 200-day average of $81.77. It has experienced a 52-week range between $74.24 and $88.25.

iShares Global Materials ETF aims to track the performance, before fees and expenses, of the S&P Global Materials Sector Index. It is an exchange-traded fund that formerly went by the name iShares S&P Global Materials Sector Index Fund. The fund allows investors to invest in the global materials sector, with the objective of matching the yield and price performance of the underlying index.

iShares, ETF, Investment