iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 432,055 shares were traded during mid-day trading, an increase of 89% from the previous session’s volume of 228,579 shares.The stock last traded at $180.95 and had previously closed at $179.53.
iShares U.S. Basic Materials ETF Price Performance
The company has a fifty day moving average of $183.46 and a two-hundred day moving average of $176.31. The stock has a market capitalization of $1.57 billion, a P/E ratio of 22.43 and a beta of 0.95.
Hedge Funds Weigh In On iShares U.S. Basic Materials ETF
Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new stake in iShares U.S. Basic Materials ETF during the fourth quarter valued at $71,967,000. Bank of America Corp DE lifted its position in shares of iShares U.S. Basic Materials ETF by 176.5% in the 1st quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock worth $65,921,000 after buying an additional 239,188 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of iShares U.S. Basic Materials ETF by 129.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock valued at $23,917,000 after buying an additional 87,723 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of iShares U.S. Basic Materials ETF during the 1st quarter valued at about $10,112,000. Finally, WealthCare Asset Management LLC acquired a new stake in iShares U.S. Basic Materials ETF during the first quarter worth about $8,780,000.
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.
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