iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 74,757 shares, an increase of 162.5% from the September 30th total of 28,483 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 251,545 shares, the days-to-cover ratio is currently 0.3 days.
iShares U.S. Basic Materials ETF Stock Down 0.1%
NYSEARCA IYM traded down $0.21 during trading hours on Thursday, hitting $181.88. The company had a trading volume of 169,029 shares, compared to its average volume of 216,065. iShares U.S. Basic Materials ETF has a fifty-two week low of $139.08 and a fifty-two week high of $197.36. The business has a fifty day simple moving average of $184.90 and a 200-day simple moving average of $181.38. The firm has a market cap of $1.31 billion, a P/E ratio of 22.43 and a beta of 0.98.
Hedge Funds Weigh In On iShares U.S. Basic Materials ETF
Several institutional investors have recently modified their holdings of IYM. The Manufacturers Life Insurance Company boosted its stake in iShares U.S. Basic Materials ETF by 64.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock valued at $135,022,000 after purchasing an additional 300,080 shares during the period. Bank of America Corp DE raised its holdings in shares of iShares U.S. Basic Materials ETF by 176.5% during the first quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock valued at $65,921,000 after buying an additional 239,188 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of iShares U.S. Basic Materials ETF by 191.8% during the first quarter. Bank of Nova Scotia now owns 74,110 shares of the company’s stock valued at $13,037,000 after buying an additional 48,710 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of iShares U.S. Basic Materials ETF by 324.4% during the second quarter. CoreCap Advisors LLC now owns 61,497 shares of the company’s stock worth $11,041,000 after buying an additional 47,006 shares during the period. Finally, Three Seasons Wealth LLC boosted its position in shares of iShares U.S. Basic Materials ETF by 99.8% during the second quarter. Three Seasons Wealth LLC now owns 57,963 shares of the company’s stock worth $10,406,000 after buying an additional 28,946 shares during the period.
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.
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