Magliocco started well and landed with a few strong right hands, although a lot of her shots just missed the target.
There was a furious exchange of punched midway through the second round but there was not a great deal of accuracy.
Matos had overturned a one-point deficit to take the lead by the third, however the referee gave her a public warning for persistent holding.
That turned the bout on its head and it was the Venezuelan who now had the advantage and led 9-8 as they entered the final two minutes.
The action became frenzied in bursts throughout the fourth round as both women landed good shots. The referee gave both fighters a public warning after throwing each other to the canvas.
A close contest ended with Magliocco claiming a 15-14 verdict.