iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – Still a Buy?

by · The Markets Daily

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) saw an uptick in trading volume on Monday . 511,548 shares were traded during mid-day trading, an increase of 132% from the previous session’s volume of 220,874 shares.The stock last traded at $176.51 and had previously closed at $175.70.

iShares U.S. Basic Materials ETF Price Performance

The firm has a 50-day simple moving average of $181.02 and a 200-day simple moving average of $179.69. The firm has a market capitalization of $1.18 billion, a PE ratio of 22.43 and a beta of 0.96.

Hedge Funds Weigh In On iShares U.S. Basic Materials ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its position in iShares U.S. Basic Materials ETF by 266.1% in the first quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock worth $769,000 after acquiring an additional 4,148 shares during the period. Baird Financial Group Inc. bought a new stake in shares of iShares U.S. Basic Materials ETF during the 2nd quarter valued at $203,000. Daiwa Securities Group Inc. increased its stake in shares of iShares U.S. Basic Materials ETF by 7.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,350 shares of the company’s stock worth $749,000 after purchasing an additional 350 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of iShares U.S. Basic Materials ETF in the 2nd quarter worth $44,278,000. Finally, Vivaldi Capital Management LP bought a new position in iShares U.S. Basic Materials ETF in the 2nd quarter worth $295,000.

iShares U.S. Basic Materials ETF Company Profile

(Get Free Report)

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.

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