iShares MSCI Global Metals & Mining Producers ETF (BATS:PICK) Trading Up 3.4% – Here’s Why

iShares MSCI Global Metals & Mining Producers ETF (BATS:PICK) shares shot up 3.4% during trading on Monday . The company traded as high as $36.23 and last traded at $36.69. 350,422 shares changed hands during trading, The stock had previously closed at $35.49.

iShares MSCI Global Metals & Mining Producers ETF Stock Performance

The stock has a fifty day simple moving average of $36.00 and a two-hundred day simple moving average of $38.47. The stock has a market capitalization of $750.23 million, a price-to-earnings ratio of 13.64 and a beta of 1.17.

Institutional Investors Weigh In On iShares MSCI Global Metals & Mining Producers ETF

Several institutional investors and hedge funds have recently made changes to their positions in PICK. Resolute Advisors LLC lifted its stake in iShares MSCI Global Metals & Mining Producers ETF by 17.5% in the fourth quarter. Resolute Advisors LLC now owns 6,216 shares of the company’s stock valued at $218,000 after buying an additional 924 shares during the period. JPMorgan Chase & Co. increased its stake in shares of iShares MSCI Global Metals & Mining Producers ETF by 18.4% in the 4th quarter. JPMorgan Chase & Co. now owns 6,437 shares of the company’s stock valued at $225,000 after acquiring an additional 999 shares in the last quarter. Strategic Advocates LLC lifted its position in shares of iShares MSCI Global Metals & Mining Producers ETF by 18.5% during the 4th quarter. Strategic Advocates LLC now owns 38,146 shares of the company’s stock valued at $1,335,000 after acquiring an additional 5,948 shares during the period. Erste Asset Management GmbH bought a new position in iShares MSCI Global Metals & Mining Producers ETF during the third quarter worth $296,000. Finally, Hirtle Callaghan & Co LLC acquired a new stake in iShares MSCI Global Metals & Mining Producers ETF in the fourth quarter worth $420,000.

About iShares MSCI Global Metals & Mining Producers ETF

The iShares MSCI Global Metals & Mining Producers ETF (PICK) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of global metals mining, extraction or production firms, excluding gold and silver mining firms. PICK was launched on Jan 31, 2012 and is managed by BlackRock.