iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Decline in Short Interest
by Sarita Garza · The Markets DailyiShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 41,577 shares, a decrease of 49.1% from the February 26th total of 81,720 shares. Based on an average trading volume of 127,639 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.7% of the company’s shares are short sold.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in shares of iShares U.S. Basic Materials ETF by 7.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,606 shares of the company’s stock valued at $1,787,000 after buying an additional 835 shares during the last quarter. Corient Private Wealth LLC bought a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter worth approximately $1,354,000. Astoria Portfolio Advisors LLC. bought a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter worth approximately $715,000. Strive Financial Group LLC purchased a new position in iShares U.S. Basic Materials ETF during the 4th quarter valued at $39,000. Finally, Financial Planning Fort Collins LLC purchased a new position in iShares U.S. Basic Materials ETF during the 4th quarter valued at $2,902,000.
iShares U.S. Basic Materials ETF Price Performance
Shares of iShares U.S. Basic Materials ETF stock traded down $1.64 during trading on Thursday, hitting $170.78. The stock had a trading volume of 76,741 shares, compared to its average volume of 206,137. iShares U.S. Basic Materials ETF has a 12 month low of $115.07 and a 12 month high of $189.80. The firm’s fifty day simple moving average is $177.26 and its 200-day simple moving average is $159.47. The stock has a market cap of $1.08 billion, a PE ratio of 22.43 and a beta of 1.07.
About iShares U.S. Basic Materials ETF
The iShares U.S. Basic Materials ETF (IYM) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a broad, market-cap-weighted index of US basic materials companies that includes raw materials such as metals, chemicals and forestry products. IYM was launched on Jun 12, 2000 and is managed by BlackRock.