iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 52-Week High – Here’s Why

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $172.57 and last traded at $172.42, with a volume of 6172 shares trading hands. The stock had previously closed at $169.72.

iShares U.S. Basic Materials ETF Stock Up 1.0%

The firm has a market cap of $1.05 billion, a P/E ratio of 22.43 and a beta of 1.07. The business’s 50 day moving average is $153.90 and its 200-day moving average is $148.97.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Simplex Trading LLC grew its holdings in iShares U.S. Basic Materials ETF by 442.0% in the 2nd quarter. Simplex Trading LLC now owns 271 shares of the company’s stock worth $37,000 after buying an additional 221 shares in the last quarter. Farther Finance Advisors LLC boosted its position in iShares U.S. Basic Materials ETF by 4,600.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 282 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares during the period. United Financial Planning Group LLC acquired a new position in iShares U.S. Basic Materials ETF during the 3rd quarter worth $41,000. Parkside Financial Bank & Trust bought a new position in shares of iShares U.S. Basic Materials ETF in the third quarter worth $52,000. Finally, CX Institutional acquired a new stake in shares of iShares U.S. Basic Materials ETF in the 2nd quarter worth approximately $67,000.

iShares U.S. Basic Materials ETF Company Profile

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.