The village's name likely originates from the surname of a local noble family, Axiaq (also spelt Axiak or Asciak), who were feudal landholders in the 14th century.

[citation needed] The titular statue which depicts the Assumption in heaven of our Lady was carved in wood by Mariano Gerada in 1808.

[citation needed] Another statue in this church is that of the Main Secondary Feast of Saint Joseph, which was made by Fratelli Bertarelli of Milan, Italy in 1932 and is also carved in wood.

The Saint Mary Band Club was set up from a simple wine shop in 1808, and consists of a religious and a secular aspect.

It was at Ta' Petistina that the first general sitting was held, and it was agreed that the first official committee members were to be drawn via a ballot.

It has also featured several Maltese groups and singers such as Tribali, Wintermoods, Scream Daisy, Freddie Portelli, Joe Brown Band, and Għannejja among others.

The Club also possesses several artistic street decorations, having a large number of statues and pedestals dating back to more than 100 years ago.

During a project spanning from the early 1980s until the official opening in May 2000, the Club acquired both previously rented and adjacent property, demolished the existing structures and rebuilt a unitary building.