iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 45,497 shares, a decline of 36.1% from the June 30th total of 71,183 shares. Based on an average daily trading volume, of 270,741 shares, the short-interest ratio is presently 0.2 days. Approximately 0.7% of the company’s stock are short sold.
iShares U.S. Basic Materials ETF Stock Performance
NYSEARCA:IYM traded up $2.47 during midday trading on Thursday, reaching $179.22. 88,516 shares of the stock traded hands, compared to its average volume of 219,524. iShares U.S. Basic Materials ETF has a 12-month low of $138.03 and a 12-month high of $191.37. The business has a 50-day moving average of $181.16 and a two-hundred day moving average of $179.53. The stock has a market capitalization of $1.19 billion, a PE ratio of 22.43 and a beta of 0.96.
Hedge Funds Weigh In On iShares U.S. Basic Materials ETF
Large investors have recently made changes to their positions in the business. Gerald Baker Financial Group LLC purchased a new position in shares of iShares U.S. Basic Materials ETF during the 1st quarter valued at approximately $4,831,000. Harmony Asset Management LLC acquired a new stake in iShares U.S. Basic Materials ETF in the 1st quarter valued at $895,000. Northwestern Mutual Wealth Management Co. increased its holdings in iShares U.S. Basic Materials ETF by 129.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock worth $23,917,000 after acquiring an additional 87,723 shares in the last quarter. Counterweight Ventures LLC increased its holdings in iShares U.S. Basic Materials ETF by 207.6% in the 1st quarter. Counterweight Ventures LLC now owns 11,829 shares of the company’s stock worth $2,081,000 after acquiring an additional 7,984 shares in the last quarter. Finally, WealthCare Asset Management LLC acquired a new position in iShares U.S. Basic Materials ETF during the first quarter worth $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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