iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Unusually-High Trading Volume – Time to Buy?
by Mitch Edgeman · The Markets DailyiShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) shares saw an uptick in trading volume on Friday . 67,828 shares traded hands during trading, an increase of 81% from the previous session’s volume of 37,495 shares.The stock last traded at $155.02 and had previously closed at $153.96.
iShares U.S. Basic Materials ETF Trading Up 0.9%
The business has a fifty day moving average price of $148.23 and a two-hundred day moving average price of $146.53. The company has a market cap of $683.19 million, a price-to-earnings ratio of 22.43 and a beta of 1.07.
Institutional Investors Weigh In On iShares U.S. Basic Materials ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IYM. The Manufacturers Life Insurance Company acquired a new position in shares of iShares U.S. Basic Materials ETF during the 2nd quarter valued at about $44,278,000. Tcfg Wealth Management LLC bought a new stake in iShares U.S. Basic Materials ETF during the third quarter worth approximately $4,901,000. Jones Financial Companies Lllp grew its holdings in iShares U.S. Basic Materials ETF by 1,430.4% during the first quarter. Jones Financial Companies Lllp now owns 32,108 shares of the company’s stock valued at $4,328,000 after purchasing an additional 30,010 shares during the last quarter. Curi RMB Capital LLC bought a new position in shares of iShares U.S. Basic Materials ETF in the first quarter valued at approximately $3,104,000. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of iShares U.S. Basic Materials ETF by 13,901.4% in the second quarter. Laurel Wealth Advisors LLC now owns 19,602 shares of the company’s stock worth $2,744,000 after buying an additional 19,462 shares during the last quarter.
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.